The Asean agreement on e-commerce paves the way for the digital economy to further flourish in the region, while advancing trade rules and building digital connectivity within it. The Asean Internet economy is estimated to reach US$200 billion (RM834.6 billion) by 2025.
“Asean member states commit to maintain, or adopt as soon as practicable, laws and regulations governing electronic transactions taking into account applicable international conventions or model laws relating to e-Commerce,” Singapore's Ministry of Trade and Industry said in a statement.
The agreement signed yesterday was previously endorsed by the Asean Economic Ministers at the 50th Asean Economic Ministers Meeting on Aug 29 this year.
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