New digital trade agreement strengthens data flow and online business ties between Singapore and Norway.
The European Free Trade Association-Singapore Digital Economy Agreement (ESDEA) has officially entered into force for Singapore and Norway. The agreement was signed on 25 September 2025 in Switzerland and takes effect today for both countries.
The ESDEA aims to strengthen digital trade links between Singapore and the EFTA States. It sets out clear and strong rules to support the safe and smooth flow of data across borders. This includes data used in financial services. The agreement gives businesses more legal certainty and confidence when taking part in digital trade.
The deal also promotes systems that work well together in areas like paperless trade and electronic invoicing. This will make cross-border digital transactions easier and faster for businesses and consumers.
Singapore’s Minister-in-charge of Trade Relations, Grace Fu, said the fast entry into force shows the strong commitment of Singapore and the EFTA States to build a secure and trusted digital trade environment. She said the agreement will create new opportunities for companies and strengthen Singapore’s role as a key hub for digital innovation and trade.
She added that the ESDEA expands Singapore’s network of digital economy agreements with European partners. These include the UK-Singapore Digital Economy Agreement and the EU-Singapore Digital Trade Agreement.
Singapore and the EFTA States have strong economic ties supported by the EFTA-Singapore Free Trade Agreement, which came into force in 2003. In 2023, bilateral services trade between Singapore and the EFTA States exceeded S$30 billion. Nearly half of this trade was delivered digitally. Financial services made up about 20% of these digitally delivered services.
The ratification process is still ongoing for other EFTA members: Iceland, Liechtenstein, and Switzerland. The agreement will take effect for them after they complete their approval procedures.
Source: MTI
