ASEAN agreement on e-commerce close to entering into force

• ASEAN agreement on e-commerce close to entering into force

The Indonesian House of Representatives has agreed to ratify the ASEAN Agreement on Electronic Commerce (AAEC) Bill. The AAEC was signed by members in 2019. According to information available on the ASEAN website, Indonesia will be the last ASEAN member to deposit its ratification, creating the conditions for the agreement to enter into force. The e-commerce agreement creates the enabling conditions for closer collaboration on e-commerce among members. It deals with a wide range of issues, such as paperless trading, digital signatures, ICT infrastructure, legal and regulatory frameworks, electronic payments, trade facilitation, intellectual property rights, competition policy, and cybersecurity. The bill awaits President Joko Widodo’s signature.