The government has launched negotiations with Singapore on a cutting-edge Digital Trade Agreement, removing barriers to digital trade and helping UK exporters expand into high-tech markets.
The announcement is part of the government’s strategy to place the UK at the centre of a network of modern free trade agreements with dynamic countries and to enhance our status as a global hub for services and digital trade.
Richard Fuller, member of the Business Select Committee and MP for North East Bedfordshire, said:
These negotiations with Singapore on a new digital trade agreement are aimed at removing barriers to digital trade, boosting the UK’s status as a global hub for services trade and helping exporters to expand into high-tech markets. By boosting links with some of the world’s biggest current and future economies, we can use the power of free trade to drive productivity, jobs and growth across the UK.
After the recently agreed Australia trade deal, I raised in Parliament the importance of the UK services sector and the need for future trade deals to focus heavily on this area, so I am delighted to see negotiations starting with Singapore on such a deal.
Hopefully agreement will be reached quickly and will provide further impetus for the UK's global trade.
Negotiations will focus on:
- Securing open digital markets for exporters, allowing them to expand into new markets and sell traditional products in new ways.
- Ensuring free and trusted cross-border data flows, while upholding high standards of personal data protection.
- Cutting red tape for UK businesses by promoting digital trading systems such as digital customs and border procedures that will save time and money when exporting.
- Upholding consumer rights and protecting businesses’ valuable intellectual property like source code and cryptography.
- Deepening our cooperation on future growth sectors like fintech and lawtech, while working with Singapore to strengthen our collective cybersecurity capabilities and keep our countries safe.
Richard's contribution in Parliament on the Australia trade deal can be watched here.
