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The Electronic Transactions Development Agency (ETDA) convened a forum to explore Thailand’s potential participation in the Digital Economy Partnership Agreement (DEPA), an initiative already adopted by countries like Singapore, Chile, New Zealand, and South Korea. This move underscores Thailand’s need to capitalise on digital advancements, opening doors to new business opportunities and fortifying its stance in the global digital economy.
The forum shed light on the country’s readiness to become a DEPA member, emphasising its strengths in electronic transactions, cybersecurity, and the ethical application of innovative technologies such as Digital Identity and Artificial Intelligence.
Professor Wisit Wisitsaratha, the Ministry of Digital Economy and Society’s (DE) Permanent Secretary emphasised creating an environment conducive to digital business transactions. He stressed the need for an international perspective, citing global entities like the United Nations (UN) and the European Union (EU) that have issued regulations serving as a blueprint for transaction laws in the digital realm. This international alignment is crucial, given the dynamic nature of digital trade and the need for comprehensive regulatory frameworks.
The DEPA agreement, pioneered by Singapore, seeks to foster opportunities in digital trade by tailoring regulations to national development strategies, consumer protection, privacy, and cultivating a cooperative trade environment. Several nations, including Singapore, Chile, New Zealand, South Korea, China, and Canada, have already joined or expressed interest in joining. The decision for Thailand to participate requires a meticulous examination of its preparedness, potential benefits, and the anticipated impact on business and trade.
The ETDA was pivotal in organising the forum, serving as the primary agency overseeing digital transactions. Based on the OpenGov report, ETDA has made some digital technology landscape breakthroughs. In the intricacy of financial scams and frauds that have continued to become the challenge, ETDA provides valuable information, resources, and solutions to individuals, government agencies, and businesses navigating the digital landscape through ADTE Knowledge Sharing.
Further, through Digital Law, ETDA ensures effective regulation and compliance with digital legal standards. Digital Law by ETDA made it more accessible for individuals and organisations to confront the financial threat emerging today.
Dr Chaichana Mitrphan, the Director of ETDA, presented the study highlighted the 16 modules of the DEPA agreement, covering a spectrum of digital issues such as business and trade facilitation, treatment of digital products, data issues, cybersecurity, business and consumer trust, digital identity verification, and emerging trends and technologies.
Dr Chaichana delved into specific areas of focus under these modules, including regulatory frameworks for electronic transactions, logistics, electronic receipts, express transportation, electronic payments, customs duties on digital products, personal data protection, cross-border data transfer, cyber security awareness, measuring against spam, online consumer protection, and regulatory collaboration for emerging technologies like AI.
The study also compared DEPA and previous agreements Thailand has been a part of, such as the ASEAN Free Trade Area (AFTA) and the Regional Comprehensive Economic Partnership Agreement (RCEP). This analysis revealed an alignment between provisions in AFTA and RCEP with those in DEPA, indicating that Thailand’s existing legal frameworks are well-positioned for DEPA participation.
The forum brought together a diverse array of relevant agencies, including the Ministry of Digital Economy and Society, Ministry of Foreign Affairs, Ministry of Commerce, Office of the Trade Competition Commission, Office of the Consumer Protection Board, Bank of Thailand, Thai Bankers Association, Digital Council for the Economy and Society of Thailand, Thai Chamber of Commerce, Federation of Thai Industries, Revenue Department, Customs Department, and the Department of International Trade Negotiations.
Opinions expressed during the forum supported Thailand’s potential benefits from joining DEPA, but participants stressed the need for a thorough decision-making process. The importance of collecting opinions from various stakeholders before presenting a summary to policy-level agencies and the Cabinet for consideration was highlighted. Dr Chaichana believed that the collaborative efforts of relevant stakeholders and comprehensive analysis would be crucial in shaping Thailand’s digital future and ensuring the country’s economy and trade benefits.
