00:00The ASEAN Digital Economy Framework Agreement is an ASEAN strategic initiative to make the most of the power of digitalization to make global trade more efficient and safe.
00:16DEFA will be the first ASEAN Digital Economy Framework Agreement.
00:22ASEAN member states will implement basic steps and interoperable digitalization regulations.
00:35This is to make ASEAN competitive and conducive to higher digital economy.
00:45To ensure the completion of DEFA and the prospects of ASEAN member states' economic development,
00:55strategic plans will be implemented, especially when Malaysia becomes the host of ASEAN this year.
01:05Before the DEFA Agreement was approved, ASEAN has conducted research to understand the digital economy in its member states
01:15and ASEAN as a whole, as well as assess the potential value brought by DEFA.
01:23This research examines the basic differences in the digitalization of trade between member states,
01:30re-examines ASEAN's efforts in digital integration,
01:36and recognizes the best practice of international trade agreements as a guide, as outlined by the WTO.
01:54Under ASEAN 2025, DEFA is one of the main economic achievements of the PED
02:12to conclude its meeting at the end of this year.
02:16As the host of ASEAN, Malaysia plays a role in moving the main agenda of regional economic integration
02:23under the leadership of the ASEAN Community 2025,
02:27which emphasizes the commitment to joint and close development.
02:34In this direction, Malaysia emphasizes two main approaches to streamline the process of DEFA meeting.
02:41The first approach is to improve the development of ASEAN member states.
02:48The second approach is to intensify the implementation of DEFA in a leveled and balanced manner.
02:55DEFA is in line with the country's agenda to make Malaysia a digitalized country
03:05and a pioneer in the digital economy.
03:09The government will continue its strategic efforts to ensure the readiness of ASEAN member states
03:18in concluding DEFA so that the region and Malaysia can remain competitive globally
03:24for the benefit of a sustainable economy and social economy.
03:33Thank you, Minister.
03:35My additional question is, given the different levels of technology availability in ASEAN countries,
03:43is there a chance for the government to introduce the basics or incentives in DEFA
03:48to accelerate the use of blockchain in Malaysia,
03:52especially in improving the smoothness of cross-border financial flows
03:56and also reducing the risk of digital fraud and so on,
04:00which can affect the competitiveness of international trade.
Comments