The DEAs promote the adoption of ethical AI governance frameworks, which set out principles to harness AI responsibly. This would help create consensus on governance and ethics principles and build trust in AI systems used across borders. Singapore organisations developing AI systems will find it easier to adopt and use AI technologies responsibly across the countries’ jurisdictions based on the common principles set out in the governance frameworks, and to align their governance practices with these frameworks.

Found in: DEPA, SADEA

Cross-border data flows are increasingly important to the growth of the digital economy as it supports electronic commerce and other digitally-enabled activities, such as data analytics and AI. Under the DEAs, parties agree to allow data to flow freely across borders and prohibit the localisation of data except for legitimate purposes such as personal data protection. This facilitates a conducive environment where businesses can:

1. Serve their customers regardless of where they are located, with new business models (e.g. software-as-a-service) and digitally native products and services (e.g. online games and video streaming);
   
   
2. Develop new products and services from data-driven innovation across borders; and



3. Choose where they can store their data. 

Found in DEPA, SADEA

The protection of personal data is key to maintaining trust in the digital economy and the development of cross border trade. As businesses carry out electronic transactions across borders, personal data is being transferred as part of these transactions. They would also have to navigate the different policies and legislations on the handling and transfer of personal data across borders, depending on the countries’ data protection regimes.

Singapore will develop mechanisms with its DEA partners to promote compatibility and interoperability in their respective legal approaches, to facilitate cross border data flows and provide safeguards for such data.

An example is the mutual recognition of certification frameworks and national trustmarks for organisations.

To find out more about the Data Protection Trustmark Certification, please click here.
To find out more about APEC Cross Border Privacy Rules (CBPR) System, please click here.

Found in DEPA, SADEA

With DEAs, organisations can receive better support to develop new products and services as Governments promote data-driven innovation across borders. For instance, data regulatory sandboxes can be established to create safe environments where companies can innovate in consultation with Governments; and resources such as the Trusted Data Sharing Framework, which helps organisations to collaborate with their overseas counterparts and share data.

Companies exploring the development and commercialisation of data-driven products and services with their overseas partners will be able to pilot their services, in consultation with government policy makers. This helps the companies address their cross-jurisdiction data flow issues and accelerates cross border data innovation.

Interested companies can approach IMDA on how they can participate.  For more details, please click here.

Found in DEPA, SADEA

Digital IDs (e.g. Singapore’s CorpPass) provide data from government-verified sources to form a digital user profile. Among other benefits, digital IDs significantly streamline business processes, including company registrations and opening of corporate bank accounts. Cumbersome processes such as Know-Your-Client (KYC) checks and invoicing can also be performed swiftly. Through the DEAs, we hope to work with partners to facilitate initiatives that promote compatibility between different digital identity regimes.

Found in DEPA, SADEA

E-invoicing is the automated creation, exchange and processing of requests for payment between suppliers and buyers using a structured digital format. The DEAs enable interoperability of e-invoicing systems between countries, allowing an e-invoice generated in Singapore to be accepted directly by another country’s e-invoice system. Businesses can enjoy shorter invoice processing time and potentially faster payment, leading to significant cost savings from not having to generate and track physical invoices.

Companies can participate in the Nationwide E-Invoicing Network by adopting Peppol-ready e-invoicing solutions and will be able to transact with their overseas partners seamlessly. In addition, SMEs can come on board through the SMEs Go Digital programme, where they can adopt Peppol ready e-invoicing solutions and receive grant support.

To find out more about the Nationwide E-Invoicing Network, please click here.

To find out more about SMEs Go Digital Programme, please click here

Found in DEPA, SADEA

E-payments provide a convenient alternative to cash and cheques as payment modes. They offer consumers a swift and efficient way to pay, helping businesses to enhance productivity. The DEAs enable interoperability of payment systems and promote acceptance of e-payment solutions provided by non-bank players.

Businesses will benefit from the increased ease and acceptance of digital payments, which will lead to faster payments, reduced transaction costs and enhanced trade. Businesses will also find it easier to navigate the payment regulations of foreign markets if they are compatible with Singapore’s, which will generate opportunities for our e-payment start-ups and players.

Found in DEPA, SADEA

Businesses can also look forward to tapping on more publicly accessible government data as we explore ways to expand access to open government data to generate new opportunities for businesses. An example would be jointly identifying sectors where open data sets can be used to facilitate business innovation.

Found in DEPA, SADEA

Connecting National Single Windows: When established, a seamless, trusted and secure connection with our partners’ Single Window systems will enable businesses to digitally exchange trade data and reduce the time and cost of doing business. This allows data to be reused, improving the efficiency of business operations when preparing trade documentations for both commercial and regulatory purposes. The digital exchange of trade data also improves data accuracy as compared to the need for multiple data entries using manual documents. 

Electronic Trade Documents: Using electronic trade documents for customs clearances (e.g. e-Certificate of Origin, e-SPS certification, etc.) helps reduce the costs of handling paper documents. It also reduces the waiting time for trade documents that are required at the destination, and it would also be possible to use technology to assure document authenticity and provenance, which improves the efficiency of the trade process.

TradeTrust: The DEAs provide a platform to collaborate on promoting and developing data exchange systems that facilitate paperless trading. Such data exchange systems will bring about benefits like a more efficient and secure trading environment for our businesses and trading partners. TradeTrust is a multi-lateral, standards-based framework that enables solutions to inter-operate with one another. Studies have shown that paper processing costs in international trade can be up to as much as 20% of the cost of moving the goods.

Found in DEPA, SADEA