The world’s first regional agreement on the digital economy will be signed in November

At the 49th ASEAN Summit in November 2026, the ASEAN Digital Economy Framework Agreement (DEFA) will be signed. It is the world’s first legally binding regional-scale agreement regulating the digital economy. ASEAN Secretary-General Kao Kim Hourn said this in an exclusive interview with TV BRICS.

Negotiations on DEFA began in September 2023 and concluded in May 2026. The member states are currently conducting an internal legal review of the text. Following the signing in November, work on an implementation plan will begin in parallel with ratification.

The agreement will cover micro, small and medium-sized enterprises – around 97 per cent of the ASEAN economy – as well as the informal sector. Digital payments, data flows, cybersecurity, e-commerce and data centres will fall within its regulatory scope. The goal is to increase the size of the digital economy from US$300 billion in 2025 to US$2 trillion by 2030.

“We’re not building 10 or 11 digital economies; it’s going to be one digital economy working together among the member states. And it will be very significant because it is the first region-wide legally binding agreement,” the ASEAN Secretary-General said.

The ASEAN Power Grid initiative is also expected to make progress at the 49th Summit. The Treaty of Amity and Cooperation in Southeast Asia (TAC) is set to be expanded. The treaty currently has 62 signatories, including Russia. New countries will join ASEAN during the upcoming meeting.

“We expect a number of other countries to join this treaty during the 49th ASEAN Summit. This is highly significant for us, because the Treaty of Amity and Cooperation now has global geographical reach: countries from different regions of the world have joined it,” Kao Kim Hourn said.

The Philippines’ ASEAN Chairmanship in 2026 is being held under the theme “One Vision, One Identity, One Community”. Its priorities are economic integration, digital transformation, inclusive and sustainable development, social integration, the protection of vulnerable groups and strengthening ASEAN’s common identity. The chairmanship coincides with the 50th anniversary of the Treaty of Amity and Cooperation in Southeast Asia.

Earlier, Kao Kim Hourn held talks with Russian Foreign Minister Sergey Lavrov and Russian Deputy Minister of Agriculture Maksim Markovich. Meetings with representatives of other ministries and government agencies are also scheduled.

African Times published this article in partnership with International Media Network TV BRICS