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An idea of a ‘single digital market’ in ASEAN was shared by Mr. Tharman Shanmugaratnam, Deputy Prime Minister of Singapore, during a panel discussion in Jakarta, organised by Bank Indonesia and the International Monetary Fund (IMF) last week. He said that ASEAN is excited to provide opportunities for businesses in the digital space and is working to provide the regulatory framework. He further mentioned a new initiative of a network of smart cities that is expected to facilitate smooth digital commerce in the region. While the idea itself is a good start, it will take ASEAN a long time to serve such an ambition.

China’s reaction to an American aircraft carrier’s first ever visit to Vietnam since the end of the Vietnam War has been deliberately muted. China has downplayed the significance of the USS Carl Vinson visit to Danang by regarding it as part of any normal exchange and cooperation including in the military field between two sovereign countries, i.e. the United States and Vietnam. Nevertheless, China has urged the United States and Vietnam to ensure that such exchanges would contribute to regional peace and stability in a positive and constructive way rather than injecting any unsettling elements.

2018/19, 5 March 2018

ASEAN’s digital economy has untapped potential. At the ASEAN Economic Ministers’ Retreat in Singapore from 1-3 March 2018, Mr. Lim Hng King, Singapore’s Minister of Trade, urged ASEAN governments to work together to facilitate trade and investment in the region. In his words, ‘our trade architecture might have served us well over the past years, but we need to enhance and update it to ensure that trade and investment flows continue unhindered throughout the region’. As ASEAN Chair in 2018, Singapore wants to work with the partner economies on digital connectivity and e-commerce flows in the region.