MANILA, Philippines — President Ferdinand Marcos Jr. on Sunday handed over the signed Digital Economy Framework Agreement (DEFA) to Asean (Association of Southeast Asian Nations) Secretary-General Dr. Kao Kim Hourn.
The Asean DEFA was signed on Saturday. Trade and Industry Secretary Ma. Cristina Roque said the agreement would help facilitate easier financial transactions for nearly 680 million people in the region.
The DEFA, signed by Asean member states, aims to strengthen digital cooperation and promote a more integrated digital economy across the region, including through improved digital trade, cross-border transactions, and connectivity.
"With Asean's digital economy set to double to $2 trillion by 2030, DEFA will be an engine for dynamic growth," Hourn said in 2025.
He said the DEFA was a new strategic roadmap for the region to address the complexities and opportunities of the digital economy.
"The world’s first region-wide digital economy agreement, DEFA will harmonize digital trade rules and unlock the potential of Asean’s digital economy," Hourn said.
He said the "digital economy is booming, with virtual platforms becoming the primary engines of innovation, commerce and human connection."
