BUSINESS

SEA’s digital economy seen doubling at $3 trillion by 2030

Raffy Ayeng · Sep 20, 2026, 11:08 PM

PHILIPPINE Trade and Industry Secretary Cristina Roque (left) hands over the gavel of ASEAN Economic Ministers’ Meeting Chairship to Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, on Saturday at the Philippine International Convention Center in Pasay City. Singapore will take over the ASEAN chairship from the Philippines on 1 January through 31 December next year. — Photograph courtesy of DTI

Economic Ministers of the Association of Southeast Asian Nations (ASEAN) are confident that the regional bloc’s digital economy could be valued at a whopping $3 trillion.

This was aired during the capping of the ASEAN Economic Ministers (AEM) Meeting under the Philippine chairship this year, coinciding with the first year of implementation of the ASEAN Community Vision and the historic conclusion of negotiations for the ASEAN Digital Economy Framework Agreement (DEFA).

The DEFA is projected to double the region’s digital economy to $3 trillion by 2030 by establishing unified regional rules for e-commerce, cross-border digital payments, secure data flows, and intellectual property protection.

Underlining the region’s strong economic fundamentals — with merchandise trade reaching $4.4 trillion and foreign direct investment inflows rising to $245.7 billion — Philippine Trade and Industry Secretary Roque highlighted how milestones like DEFA aim to fulfill the objective of regional integration.

“Growth is important, but our task is to turn that growth into greater opportunities, stronger regional integration, and concrete benefits for our people and businesses,” Secretary Roque said.

“With the conclusion of DEFA negotiations under our Chairship, we must exhaust the full potential of this agreement. DEFA cuts across key sectors — including digital trade, cross-border e-commerce, digital payment, digital identifier, cyber security, data governance, competition policy, emerging technologies, and digital talent,” Secretary Roque said.

Throughout the meeting, economic ministers reviewed key progress made on the Philippines’ Priority Economic Deliverables and the broader ASEAN Economic Community agenda.

Discussions focused on expanding trade and investment, accelerating digital transformation, advancing micro, small and medium enterprise development, fostering innovation, and embedding sustainable practices across regional value chains.

Roque also expressed deep gratitude to her fellow economic ministers, the ASEAN Secretariat, Senior Economic Officials, and sectoral working groups for their collaboration and commitment to driving actionable outcomes.

Looking ahead, the policy directions and agreements reached during the 58th AEM will feed directly into recommendations for the ASEAN Economic Community Council and the region’s leaders at the 49th ASEAN Summit and Related Summits in November 2026.

On Saturday, the Philippines officially handed over the AEM Chairship to Singapore during the conclusion of the 58th AEM Meeting held at the Philippine International Convention Center.