The Association of Southeast Asian Nations (ASEAN) is preparing to sign the Digital Economy Framework Agreement (DEFA) next year, a landmark initiative expected to double the group’s digital economy to US$2 trillion by 2030. This is reported by
VNA, a partner of TV BRICS.
The announcement follows the 14th round of negotiations in Jakarta, where progress reportedly reached around 70 per cent, according to Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto. He confirmed that member states are finalising five key provisions: digital financial services, WTO-aligned e-commerce taxation rules, non-discrimination of digital products, submarine cable management, and cross-border payment flexibility.
According to the source, ASEAN’s digital economy was valued at US$263 billion in 2024, and is projected to reach US$1 trillion by 2030. However, with DEFA’s implementation, the group could see this figure rise to as much as US$2 trillion, positioning Southeast Asia among the world’s most integrated digital markets.
Indonesia is expected to remain the regional digital powerhouse, with its digital economy forecast to quadruple from US$90 billion in 2024 to US$360 billion by 2030, led primarily by the e-commerce sector, which could contribute US$50 billion.
For Vietnam, DEFA represents the first comprehensive digital economy agreement it has joined, a step that will accelerate national digital transformation efforts.
Photo: TimArbaev /
iStock
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