Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what assessment he has made of the effectiveness of the Digital Economy Agreement with Singapore in reducing non-tariff barriers for UK businesses exporting (a) digital services and (b) physical goods.

The UK-Singapore Digital Economy Agreement (DEA) stands out as one of the most comprehensive digital trade agreements globally and locks-in market liberalisations in key areas for businesses such as cross-border data flows. The seven Memoranda of Understanding signed alongside the DEA facilitate engagement on several key areas, including Fintech and Lawtech services. Trade digitalisation pilots conducted under the agreement framework demonstrated significant business benefits to trade in goods, including 40% reduction in trade processing time, 89% reduction in paperwork, and 67% improvement in staff productivity. We keep the effectiveness of the agreement under review as part of its ongoing implementation.