
Chapman Tripp – The Digital Economy Partnership Agreement (DEPA) concluded last week between New Zealand, Chile and Singapore will establish new international rules and best practice to support and promote digital commerce.
Digital trade is New Zealand’s third biggest revenue earner, having experienced faster growth here over the last ten years as a proportion of GDP than in any other Organisation for Economic Co-operation and Development (OECD) country.
[adrotate banner=”90″
DEPA is a living document, meaning that other countries may join.
DEPA in detail
As well as building on existing rules on e-commerce, the DEPA negotiations considered a range of emerging digital economy issues, including cross-border data flows, digital identification, artificial intelligence, cybersecurity, and open data.
The World Trade Organisation (WTO) rules were predicated on identifying whether products are goods or services and the borders they cross but digital trade blurs these distinctions. The need for reform is recognised by the WTO, as evidenced in the WTO E-commerce Initiative whereby 76 WTO member states (including New Zealand) agreed earlier this year to work toward a new WTO e-commerce agreement.
DEPA complements and supports this process.
Before being ratified by the Government, DEPA will be subject to a National Interest Analysis, Cabinet review, and Select Committee examination.
For more information, check out the Ministry of Foreign Affairs and Trade modules here.
What is digital trade?
The term ‘digital trade’ is an evolving concept, capturing not just internet shopping and the supply of online services (e-commerce), but also data flows that enable global value chains, services that enable smart manufacturing, and a myriad of other platforms and applications.
Why DEPA matters to New Zealand
New Zealand now has 29,000 tech firms with nearly 100,000 employees contributing $16.2b to GDP and producing $6.3b in exports.
This gives us a strong interest in ensuring that international trade rules dealing with the challenges created by digitalisation have a strong commercial basis, deal effectively with the social implications of increased data flows, and protect the Treaty of Waitangi, personal privacy and cybersecurity.
More on LawFuel
- Australia’s ‘Ones to Watch’ in the Young Best Lawyer ListThe ‘Best Lawyer’s list for 2022 has been published with a first-time list of some of the younger lawyers who …
Australia’s ‘Ones to Watch’ in the Young Best Lawyer List Read More »
- Google Alphabet’s Top Lawyer’s Earnings – They Took a Dive to Just $15 MillionLawFuel Law Star J Kent Walker has had another good year pulling in nearly $15 million after a busy year …
Google Alphabet’s Top Lawyer’s Earnings – They Took a Dive to Just $15 Million Read More »
- Law Job Site Reports on Shake Up in US Law School RankingsNew law job website LawJob1 has reported on the major shakeup in the rankings of US law schools following a …
Law Job Site Reports on Shake Up in US Law School Rankings Read More »
- Who Are The Oligarchs Lawyers And The ‘Lawfare’ Claims Made In Their Names?Oligarch lawyers in the UK are named and lawfare claims face increased scrutiny
- Immigration Law Firm Alexandra Lozano – Serving Clients in 50 States – New Listing on LawFuel DirectoryLatino focus and smart marketing helps immigration law firm deliver case-winning service Alexandra Lozano Immigration Law works to amplify its …
- The Fighting Justice – Ukrainian Judge Takes Up ArmsAmong the many thousands taking up arms against the Russian invaders in Ukraine are many lawyers and others, including a …
The Fighting Justice – Ukrainian Judge Takes Up Arms Read More »
- The Lawyers Who Share in Prince Andrew’s Settlement SpoilsThe news that Prince Andrew has settled his highly publicized and damaging sexual abuse case involving Virginia Giuffre is good …
The Lawyers Who Share in Prince Andrew’s Settlement Spoils Read More »
- Black Barrister Decries Ridiculous ‘Insensitive’ WigsThe barristers’ horsehair wigs have been around since the 17th century, but a leading black barrister claims they are ‘culturally …
Black Barrister Decries Ridiculous ‘Insensitive’ Wigs Read More »
- Charlotte Bellis’ Auckland Barrister’s New Legal SpecialtyAuckland barrister Tudor Clee, who has been assisting journalist Charlotte Bellis with her attempts to return home to give birth …
Charlotte Bellis’ Auckland Barrister’s New Legal Specialty Read More »