Through the digital economy agreements, the city-state hoped to “develop an international framework to promote the interoperability of standards and systems” and support local businesses, especially small and medium-sized enterprises (SMEs), that deal with digital and e-commerce. Singapore is focusing on the $352 million digital transformation to help businesses cope with the effects of the pandemic Chan said: “The agreement will facilitate the digitalisation of business processes and make it easier and cheaper for Singaporean companies to conduct cross-border business with Australia. With Covid-19 forcing businesses to consider innovative ways to reach customers and adapt to a new type of business activity, agreements such as the Singapore-Australia Digital Economy Agreement will enable our businesses to seize the opportunities offered by the digital economy and use new technologies to create new digital products and services. SINGAPORE – Singapore and Australia have signed an agreement that will provide economic opportunities for both countries. .
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