Moscow: SiltaNews – News Desk
The Association of Southeast Asian Nations (ASEAN) is preparing to sign the Digital Economy Framework Agreement (DEFA) next year, a landmark initiative expected to double the group’s digital economy to US$2 trillion by 2030. This is reported by VNA, a partner of TV BRICS.
The announcement follows the 14th round of negotiations in Jakarta, where progress reportedly reached around 70%, according to Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto. He confirmed that member states are finalising five key provisions: digital financial services, WTO-aligned e-commerce taxation rules, non-discrimination of digital products, submarine cable management, and cross-border payment flexibility.
According to the source, ASEAN’s digital economy was valued at US$263 billion in 2024, and is projected to reach US$1 trillion by 2030. However, with DEFA’s implementation, the group could see this figure rise to as much as US$2 trillion, positioning Southeast Asia among the world’s most integrated digital markets. Indonesia is expected to remain the regional digital powerhouse, with its digital economy forecast to quadruple from US$90 billion in 2024 to US$360 billion by 2030, led primarily by the e-commerce sector, which could contribute US$50 billion. For Vietnam, DEFA represents the first comprehensive digital economy agreement it has joined, a step that will accelerate national digital transformation efforts.