BANDAR SERI BEGAWAN, BRUNEIโ – August 30, 2025 (17:01:48 ICT) – A โlandmark digital tradeโ agreement poised to unlock $2 trillion in economic value for the Association of Southeast Asian Nations โฃ(ASEAN) isโฃ gaining momentum under Thai leadership, officials โคannounced today. The Digital economy Framework Agreement (DEFA) aimsโ to โฃstreamline cross-border digital commerce, enhance โdata security, and foster innovation acrossโข the region, with a target signing date in 2026.
The DEFA initiative is especially crucial โfor โฃsmall and medium-sized enterprises (SMEs) andโฃ startups seekingโ to expand their reachโ into internationalโฃ markets. By reducingโ barriers to digitalโ trade – including high transaction costs and โคcomplex regulations – the agreement promisesโ to level the playing field โand accelerate economic growthโ throughout ASEAN. The framework addresses key areas such โas seamless online services, affordable digital โคpayments,โ robust data protection, and the progress of โขessential digital skills.
According to Mr. Chantawit, the negotiations are being spearheaded by Thailand, building on the work of previous chair Miss Phli Prae Chumtrum, Director of the Bureau of Trade, Department ofโฃ International Trade Negotiations. Thailand has prioritized close collaboration with member countries to achieveโข consensus on โฃcritical issues, ensuring the agreementโ benefits all parties involved. “Believe that the negotiations under the leadership of Thailand will be able to achieve the negotiation results in time,” Chantawit stated.
The DEFA agreement is designed toโ facilitate trade by โestablishing standardized rules for digital transactions, protecting personal data, and bolstering cybersecurityโ measures. It also seeks to promote the adoption of emerging technologies like artificial Intelligence (AI), Fintech, and facts Innovation, creating a โคdynamic โคenvironment for digital businesses.
DEFA is a central component of the Bandar Seri Begawan Roadmap (BSBR), which guidesโ ASEAN’sโ transition to a digital economy in alignment with the ASEAN Economic Community Post-2025โ Vision.it also supports the broader economic recovery initiativesโ of ASEAN, beginning with the AISSEA โฃ2022. Officials aim to showcase meaningful progress โby October 2025,paving the way for the โคofficial signing of theโ agreementโ in 2026.
“It is expected that if DEFA agreement is effective Will helpโฃ push the ASEAN โขdigital trade value of โค$2โ trillionโค byโ 2030,” โขChantawit added, emphasizing the potential for widespreadโค economic benefits, particularly forโ smaller operators aimingโ to expand internationally.
