ASEAN Trade Bloc Finalizes $2 Trillion Digital Economy Framework

The historic pact covers cross-border data flows, digital payments, and AI governance standards for the bloc's 680 million consumers.

ASEAN trade ministers signed the Digital Economy Framework Agreement (DEFA) in Kuala Lumpur, creating a unified regulatory environment for e-commerce, fintech, and cloud services across all ten member states. The framework is expected to unlock $2 trillion in economic activity by 2035 and positions Southeast Asia as a competitive alternative to China and the EU in global supply chains.