SG, Europe ink agreement on digital connectivity and trade

The agreement will not restrict the cross-border transfer and storage of data.

Singaporea and the European Free Trade Association (EFTA) have signed an agreement to improve digital connectivity and trade.

The EFTA-Singapore Digital Economy Agreement (ESDEA) will not restrict the cross-border transfer and storage of data, allowing companies to choose where they store their data.

It will also maintain legal frameworks to protect personal data, providing information on individuals' data protection rights and how businesses can comply with the rules.

Additionally, the agreement encourages the use of international standards for e-payments, promoting interoperability between different systems.

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