SAWT BEIRUT INTERNATIONAL

| 2 August 2021, Monday |

UK and Singapore negotiate on digital trade agreement

Negotiations on a new digital-trade deal will kick off on Monday between Britain and Singapore, in London’s push to become what it calls a “global tech powerhouse” after Brexit.

Since completing its exit from the EU at the end of last year, Britain has pressed ahead with new trade deals, especially with countries in the Indo-Pacific region, with the most recent agreement signed with Australia.

Digital trade is considered to be key by the government to support British tech companies in capitalizing on investment opportunities abroad and try to help a post-Covid recovery.

The government said any deal with Singapore could remove barriers to digital trade and enable British exporters to expand into high-tech markets. The talks will start with a video call.

“An agreement with Singapore will keep us at the forefront of the technological revolution, ensuring we lead the way in digitally delivered trade and industries like FinTech and cyber security,” British Trade Secretary Liz Truss said.

“The UK will be the first European country to ever negotiate a digital economy agreement, which shows what we can do as a sovereign trading nation.”