cross border logisticsChina's Ministry of Commerce (MOFCOM) on Monday welcomed a decision by the Digital Economy Partnership Agreement (DEPA) members to formally commence the accession process for China, vowing to conduct substantive negotiations with DEPA members and make full preparations for joining the group.

Last week, the DEPA agreed to formally commence the accession process for China and established an accession working group, which will be chaired by Chile. The MOFCOM said on Monday that China welcomes the decision, which means that China will fully advance the negotiations for joining the DEPA.

China filed a formal application to join the DEPA in November 2021.

Since filing the application, China has held dialogues at all levels with DEPA member countries - Chile, New Zealand and Singapore, including in-depth communication at the ministerial level on different occasions, the MOFCOM said.

China also held two meetings of chief negotiators with DEPA member countries, and several technical consultations and seminars on digital laws and regulations to comprehensively answer questions raised by members about China's digital economy management, the MOFCOM noted.

Signed by New Zealand, Singapore and Chile in June 2020, the DEPA coordinates digital economy policy, the first agreement of its kind in the world. It covers almost all key areas of the digital economy, from business trade facilitation to personal information security.

Joining the working group means that China will fully advance negotiations for joining the DEPA. The working group will be composed of representatives of DEPA member governments, with Chile as the chairman, and conduct consultations with China under the framework of the working group to advance the process of China's accession, MOFCOM said.

"We need to actively develop the digital economy, participate in the formulation of global digital economy rules, and promote the internationalization and globalization of China's digital economy," Tu Xinquan, dean of the China Institute for WTO Studies at the University of International Business and Economics in Beijing, told the Global Times on Monday.

As the world's second-largest digital economy, China's accession to the DEPA is conducive to promoting the expansion and opening of the digital trade field and establishing an integrated digital trade market with the same rules and compatible standards as its members, the MOFCOM said.

In the next step, China will make full preparations for joining the DEPA, conduct substantive negotiations with DEPA members, and continue to advance the accession process, according to the ministry.

Global Times