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UK-Singapore digital economy deal enters into force from 14 June

The United Kingdom-Singapore Digital Economy Agreement (UKSDEA) will take into effect from June 14, making it the first digitally-focused trade deal ever signed by a European nation. The deal aims to advance end-to-end digital trade through common digital systems for e-payments, e-invoicing, the maintenance of a secure digital environment, and encourage digital economy participation by small and medium-sized enterprises. The UKSDEA will facilitate more seamless and trusted cross-border data flows, while prohibiting data localisation, meaning that businesses will be able to choose where to store their data. The agreement will be officially announced by Deputy Prime Minister Heng Swee Keat.

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