According to the Ministry of Economic Affairs (MOEA), the agreement provides a mechanism to ensure safe e-commerce transactions and protect digital content. It removes trade barriers to digital products and service transactions, protects content creators intellectual property, creates a stable and open environment that enables transactions related to information products, encourages a paperless trade across borders and prevents Internet fraud.
The agreement also proposes to establish a platform to enable cooperation between the two countries governments. The platform aims to encourage small- and medium-sized companies to engage in more e-commerce, as well as facilitating exchange of regulations and implementation experiences related to e-commerce.Negotiations on the agreement began in June 2012 and the two countries inked the agreement in November 2013.
Check out our Cross-border Ecommerce Research section here for more info on country-specific ecommerce facts & figures, preferred payment methods, risk and fraud, as well as ecommerce legislation & regulation for mature and emerging markets.
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