HomeInsightsGovernment signs three Memoranda of Understanding with Singapore on digital trade, digital identity and cyber security

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The UK and Singapore Governments have signed three Memoranda of Understanding (MOUs) on digital cooperation in the areas of digital trade facilitation, digital identities and cyber security to strengthen the digital connectivity between the UK and Singapore, and to support the shared goals and key tenets of the UK-Singapore Digital Economy Agreement (DEA), on which negotiations are ongoing and targeted for agreement in principle in the near-term.

The Government says that the Digital Trade Facilitation MOU seeks to unlock opportunities and provide solutions to barriers faced when digitising trade between the UK and Singapore. It is hoped that the sharing of knowledge and implementation of pilot projects between the UK and Singapore on areas such as electronic trade documents and electronic invoicing will help to drive the development and adoption of digital trade facilitation solutions at a bilateral and international level.

The Government notes that with the growing volume of digital transactions, the ability to reliably verify one’s identity has become increasingly important. The Digital Identities Cooperation MOU aims to promote greater cooperation between the UK and Singapore in the field of digital identity, with the aim of developing mutual recognition and interoperability between the respective digital identity regimes.

The Cyber Security MOU acknowledges the shared vision between the UK and Singapore in maintaining the economic and social benefits of an open, peaceful and secure cyberspace. The two countries also acknowledge their common interest in addressing the international challenges and promoting bilateral collaborations to strengthen cyber security. The MOU builds on strong existing cyber cooperation between the UK and Singapore in seeking opportunities for collaboration in areas such as the Internet of Things (IoT) security, promoting cyber resilience and capacity building. As cyber security underpins the digital economy by promoting secure digital trade, the MOU will also build on existing workstreams between the UK and Singapore to build a secure and resilient cyberspace for businesses and consumers. To read the Government’s press release in full and for links to each of the MoUs, click here.