The member states of ASEAN are negotiating an agreement called the ASEAN Digital Framework Agreement (DEFA) to create a sustainable and inclusive digital economy worth up to $2 trillion by 2030. The agreement aims to harmonize digital regulations, promote interoperability, and protect intellectual property rights across Southeast Asia. The goal is to strengthen the region’s collective power in the global digital economy and enhance the user experience for consumers. However, challenges such as uneven cyber resilience and insufficient attention to intellectual property rights need to be addressed. Implementing interoperability measures and enhancing IP protection will drive market growth for businesses and provide consumers with more choices in a fair regional business environment. Overall, the success of the DEFA could position ASEAN as a hub of the global digital economy.
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