Communications and trade are growing exponentially across borders and devices. This value amounted to some US$7.8 trillion in 2014 alone ,while data flows account for US$2.8 trillion of this impact. Digital trade has emerged as a bright spot in a socially-distanced world and Australia is already collaborating with several ASEAN members in this space. Governments in several ASEAN economies, including Vietnam, Indonesia, Cambodia, Thailand, and the Philippines, have recently enacted content regulations and licensing requirements that not only differ from their peers in the region, but are often onerous. About the Masterclass series. In June, the UK launched its Asia Pacific Digital Trade Network and will now set up a UK-ASEAN Digital Business Challenge to give companies in the region further assistance to meet challenges. Such unilateral digital taxation measures are doing more harm than good by creating double-taxation and administrative hurdles for companies. The goal is to develop an agreement built around the key principles of neutrality, efficiency, certainty, and simplicity that will give governments comfort on revenues, businesses the ability to grow and invest for the future, and consumers an understanding of the impact on their wallets. ASEAN’s digital economy is estimated to increase from 1.3 percent of GDP in 2015 to 8.5 percent in 2025, according to Lim Jock Hoi, Secretary-General of ASEAN. While the joint statement is replete with the usual careful and non-committal language typical of diplomatic paperwork, it shows that Europe sees digital collaboration with ASEAN as mutually beneficial and a way to increase its influence in the region even as China’s ambitions increase. If the region is committed to leveraging the digital economy to accelerate post-pandemic economic recovery, governments need to create a business environment that brings long-term stability for businesses to continue to innovate and invest for the future. Realising the potential of digital trade across Australia and the South East Asia region is the focus of a Recommendations Report has released by Standards Australia.. • Digital integration is harnessing the digital economy to power and accelerate intra-regional trade and growth, and could stimulate GDP uplift of US$1 trillion by 2025. If ASEAN member states want to reap the benefits that the Internet economy can bring, the economic bloc needs to sow the seeds now. Photo courtesy of VNPT HÀ NỘI — Việt Nam has carried out digital transformation programmes for enterprises and dialogues between companies and senior leaders of ASEAN countries to turn the bloc into a hub for innovative and sustainable start-up development. NANNING, Aug. 21 (Xinhua) -- Southwest China's Guangxi Zhuang Autonomous Region and the Association of Southeast Asian Nations (ASEAN) have rolled out a plan to build the China-ASEAN Digital Trade Center for boosting regional digital economic cooperation. This would involve accelerating implementation of the ASEAN Single Window (ASW) and … Top-performing DevOps teams automate more functions as part of their toolchain, including monitoring and security. Driving the region’s recovery post-COVID-19 must undoubtedly be at the top of the economic bloc’s agenda. In 2019, Southeast Asia’s Internet economy hit US$100 billion, more than tripling in size over the preceding four years. Share. Current exports total US$1.3tn, with forecasts predicting exports to rise to US$2.8tn by 2025, making ASEAN the world's fastest-growing trade … Hear how teams are implementing a secure DevOps workflow to ship apps faster and confidently run them in production. Greater entry and participation of local SMEs and MSMEs should also be encouraged in the digital economy, and help realise the potential of the Internet economy to contribute substantially to the region’s growth. The Risk for ASEAN of New Mega-Agreements that Promote the Wrong Model of E-commerce (Jane Kelsey) 4. Southwest China's Guangxi Zhuang autonomous region and the Association of Southeast Asian Nations (ASEAN) have rolled out a plan to build the China-ASEAN Digital Trade Center for … It has the far-reaching potential to touch all aspects of the global economy, from agriculture to manufacturing, telecommunications, and service-based industries. Austrade, in partnership with DFAT, TIQ/Tradestart, AsiaLink, IP Australia and CCIQ have developed a digital trade masterclass series with a focus on doing business in Southeast Asia. November 17, 2020 | Could ASEAN expel Cambodia and Laos over their allegiance to China? The declaration this month comes a day after the Asian trade bloc announced it had launched an ASEAN Customs Transit System (ACTS) that allows folks shipping packages to make a single customs declaration electronically, via an app, that will be accepted by border officials across the association's ten member nations – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Fast economic and trade growth. (Xinhua/Li Xueren) This year's expo aims to deepen cooperation in trade, the digital economy, science and … Conflicting policies create unnecessary barriers and complexities, especially for growing local startups trying to operate across multiple markets. The day after announcing ACTS had become operational, the EU and ASEAN staged their annual ministerial meeting, and the output was a Joint statement on Connectivity [PDF] that stated the new software “is a promising first step to identify ASEAN and the EU cooperation on regulatory alignment, simplifying customs procedures, and movement of transit goods by road.”. Similarly, while the ASEAN Framework on Digital Data Governance is an encouraging commitment to setting the right policies for the seamless flow of data that drives innovation, efforts to enable greater regional digital … However, ASEAN needs to do more. The cost and complexity of individual countries creating and applying their own rules ultimately hits the pockets of the consumer and potentially delays market expansion. ASEAN is well-placed to leverage the potential of its digital economy to drive post-COVID-19 recovery efforts. The declaration this month comes a day after the Asian trade bloc announced it had launched an ASEAN Customs Transit System (ACTS) that allows … About the Webinar . The European Union and the Association of Southeast Asian Nations (ASEAN) trading bloc have vowed to intensify their digital trade and connectivity links in ways that could rival the corresponding parts of China’s economic Belt and Road Initiative. • ASEAN’s digital economy is 7% of GDP vs. 16% for China, 27% for EU-5 and 35% for the US. These cookies are used to make advertising messages more relevant to you. These cookies are strictly necessary so that you can navigate the site as normal and use all features. KUALA LUMPUR:The recent ASEAN Business and Investment Summit highlighted the importance of fostering digital innovation and economic partnership for the future of the UK-ASEAN ties, particularly in education and digital trade. This would make trade flows and financing smoother, cheaper and faster between both regions, and create opportunities to tap on fintechs from China and Asean for innovative solutions to build this digital trade corridor," he said. Simon Sharwood, APAC Editor Wed 2 Dec 2020 // 06:35 UTC. The good news is that Asean is well placed to leverage the potential of its digital economy to drive recovery efforts. China-ASEAN digital trade center to boost cooperation NANNING, Aug. 20 (Xinhua) -- Southwest China's Guangxi Zhuang Autonomous Region and the Association of Southeast Asian Nations (ASEAN) have rolled out a plan to build the China-ASEAN Digital Trade Center for boosting regional digital economic cooperation. The European Union and the Association of Southeast Asian Nations (ASEAN) trading bloc have vowed to intensify their digital trade … Part of Situation Publishing, Biting the hand that feeds IT © 1998–2020, And don’t you dare try to get a fax machine into the Middle Kingdom, Mission aims to bring home 2kg of stones and soil from up to 2m down, Someone appears to have ignited the Great Firewall with Hong-Kong-related post, Seeks first-mover advantage and says US dollar ripe to be dethroned, Includes the usual stuff about not selling weapons, adds wording about tech, data, and reciprocity, Alibaba in front with Huawei and Tencent on a second tier, Campaign even targeted branch offices inside China and sought secrets of automotive and engineering companies, Government and local business told to buy local, but slum it with Google or Microsoft if you must, This research paper will explore the new platform and assess its strengths and weaknesses compared to the growing cadre of potential competitors. EU, ASEAN trade bloc plan closer digital ties that could make China's Belt and Road offering look rather boring New customs software that digitises internal trade was just the beginning. Member countries need to work together to develop smart, forward-looking policies that stimulate ASEAN’s digital economy by spurring innovation, encouraging greater entry and participation of SMEs and entrepreneurs, and empowering businesses to grow and invest for the future. Hong Kong has growing economic ties with ASEAN, which is the city’s second-largest trading partner and third largest export market. IGNITE provides technical assistance to ASEAN bodies in the areas of trade facilitation; digital economy; and science, technology and innovation. The Future of Technology: Opportunities for ASEAN in the Digital Economy Sarah Box and Javier Lopez-Gonzalez1 2.1. He draws from the Digital and Sustainable Regional Integration Index to explore how well ASEAN economies have integrated into the regional digital economy. UK Secretary of State for International Trade, Liz Truss, said 2020 has been a challenging year but it has also been a year of greater UK-ASEAN … That plan calls for digital network interoperability between the two blocs and the flow of data between them. Here's an overview of our use of cookies, similar technologies and A new digital platform to speed up customs clearance of land freight is set to boost cross-border trade productivity. The ASEAN-Australia Digital Trade Standards Cooperation Initiative was a pioneering regional project to set internationally-accepted standards to support such growth. Singapore is Australia's largest trade and investment partner in ASEAN. The 17th China-ASEAN Expo and China-ASEAN Business and Investment Summit kicked off on November 27, 2020 highlighting booming digital economy cooperation and the implementation of a recently signed major trade pact. China is leading in the development of digital infrastructure and is an important partner of ASEAN to promote the digital economy in the region, Lim noted. The China-ASEAN Information Harbor Co. Ltd., a Guangxi-based info … One unified declaration, ship within the association. Australia and Singapore are leading the way in the digital economy and we are eager to continue to work with Singapore to maximise ambition in areas of common interest. The on-going COVID-19 crisis has highlighted the need for further accelerating the digitalization of trade and associated procedures. Introduction The digital age is now a reality in many economies. Trade ( Kar-yiu Wong ) part I: Rules and Regulations and fourth in trade value and medium sized (. 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