Asean digital pact seen easing cross-border trade for MSMEs

A PROPOSED regional digital agreement is expected to make it easier for micro, small and medium enterprises (MSMEs) to expand across Southeast Asia by simplifying online transactions and aligning digital rules among Association of Southeast Asian Nations (Asean) member states, the Department of Trade and Industry's Bureau of International Trade Relations (BITR) said.

- Bless Aubrey Ogerio

The Asean Digital Economy Framework Agreement (Defa), one of the Philippines’ Priority Economic Deliverables under its Asean chairmanship, seeks to harmonize regulations governing digital trade across the region, helping businesses operate more efficiently across borders.

BITR Director Marie Sherylyn Aquia said the agreement is designed to deliver practical benefits for businesses and consumers as the region accelerates its digital transformation.

“In the short term, digital transformation cuts paperwork and costs by moving processes online, makes payments faster and safer, helps small businesses reach more customers, and reduces paper use,” Aquia told the BUSINESSMIRROR in a message.