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S. Korea, Singapore begin talks on digital trade deal

/ 05:33 PM June 22, 2020

(Trade Ministry-Yonhap) via The Korea Herald

SEOUL — South Korea and Singapore on Monday kicked off negotiations toward a digital trade deal, Seoul’s trade ministry said.

South Korean Trade Minister Yoo Myung-hee and her Singaporean counterpart, Chan Chun Sing, announced the start of negotiations during their videoconference earlier in the day, the ministry said.

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A digital trade deal includes provisions for non-discriminatory treatment for electronic transactions, easing of barriers on cross-border data flow and consumer protection.

If South Korea signs a deal with Singapore, it would be the first digital trade deal for Seoul.

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Yoo said the two nations agreed to swiftly push for negotiations with the goal of making substantial progress by the end of this year.

If signed, a deal would help lower barriers on digital trade between the two nations, Yoo said.

The first official talks will be held in mid-July and negotiations will be held via videoconference for the time being, the ministry said. (Yonhap)

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TAGS: Business, Digital Trade Deal, Finance, Singapore, South Korea
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