BUSINESS

Regional digital deal seen doubling market to $2T

Maria Bernadette Romero-Alcazar · Nov 15, 2026, 1:12 AM

DEPARTMENT of Trade and Industry Secretary Ma. Cristina Roque leads the 28th ASEAN Economic Community Council Meeting where ministers have endorsed the outcomes of the Philippines’ Priority Economic Deliverables as ASEAN Chair. This includes the signing of the ASEAN Digital Economy Framework Agreement, and finalizing the the economic recommendations and initiatives to the discussions at the summit. — Photograph courtesy of RADYO PILIPINAS/X

The signing of the ASEAN Digital Economy Framework Agreement (DEFA) is expected to unlock new investment opportunities, ease cross-border trade and help double Southeast Asia’s digital economy to $2 trillion by 2030.

Trade and Industry Secretary Cristina Roque said Saturday that the landmark agreement would establish common rules for digital trade, electronic payments, data protection, and cybersecurity to allow businesses to expand more easily across the region’s nearly 680 million consumers.

“The stakes are significant. We are building a more integrated digital economy for nearly 680 million people, with the potential to double its value from an estimated $1 trillion to $2 trillion by 2030,” Roque said during the signing ceremony.

Key 2026 ASEAN chairship priority

The Philippines pushed for the agreement as a key economic priority of its 2026 ASEAN chairship, seeking to strengthen regional digital integration and attract more investments into Southeast Asia’s digital economy.

For Philippine businesses, particularly micro, small and medium enterprises (MSMEs), DEFA is expected to open access to larger regional markets, digital platforms and cross-border supply chains.

“For our MSMEs, this means greater opportunities to reach customers across ASEAN, access digital platforms, and participate in regional value chains,” Roque said.

The agreement covers digital trade and e-commerce, electronic payments, digital identity, cross-border data flows, consumer protection, cybersecurity and emerging technologies such as artificial intelligence.

Roque said these measures would help businesses reduce transaction barriers while strengthening consumer confidence in digital services.

The agreement is also expected to create employment opportunities in e-commerce, information technology-business process management, digital services and creative industries.

Strengthens ASEAN collective competitiveness

“And for ASEAN as a whole, DEFA strengthens our collective competitiveness, creates a more attractive environment for investment, and positions Southeast Asia as a stronger player in the global digital economy,” she said.

However, Roque stressed that translating the agreement into actual economic gains would require coordinated government policies, stronger digital infrastructure, and sustained private sector investments.

“Our real task now is to translate these commitments into practical outcomes,” she said.

“Governments must work together to put the necessary policies, infrastructure, and systems in place. We must also ensure that implementation responds to the needs of businesses, particularly our MSMEs, so that the opportunities of the digital economy are not limited to those with the greatest resources.”

Roque also urged businesses to increase investments in digital technologies and regional partnerships to ensure smaller enterprises benefit from deeper economic integration.

“We invite you to be active partners in this transformation and similarly challenge you to do more: invest in digital solutions, strengthen your regional partnerships, and help bring smaller businesses into the digital economy,” she said.