Singapore, Chile, and New Zealand have initiated a significant evolution in their trade partnership by moving from the Digital Economy Partnership Agreement (DEPA) to a new and more comprehensive framework called the Green Economy Partnership Agreement (GEPA). This transition marks a strategic shift toward integrating digital trade facilitation with sustainability and climate action, reflecting a forward-looking vision that aligns economic growth with environmental responsibility.

From DEPA to GEPA: Expanding Horizons

The DEPA, launched in 2020, was groundbreaking—the world’s first digital-only trade pact—aimed at facilitating cross-border data flows, interoperability, and digital trust among member economies. It set standards around digital trade that attracted interest from countries like South Korea and China, serving as a digital innovation hub for trade in Asia-Pacific and beyond. However, the global urgency of climate change and the rising importance of green technologies prompted Singapore, Chile, and New Zealand to build on DEPA’s foundation and pursue a broader partnership.

GEPA is envisioned as a plurilateral agreement that goes beyond digital trade to promote sustainable economic development. It aims to facilitate trade and investment in environmental goods and services, enhance interoperability of green standards and eco-labelling, support trading in intangible environmental assets such as carbon credits and renewable energy certificates, and encourage the adoption of low-carbon technologies and sustainable practices across key sectors. This new agreement reflects the trio’s commitment to leveraging trade as a powerful enabler of climate action while unlocking green economy opportunities for businesses in their countries.

Governance Structure: A Living and Adaptive Framework

GEPA’s governance is designed to be dynamic and adaptive, reflecting the rapidly evolving nature of the green economy and digital technologies. The governance model features several key components:

• Joint Working Group (JWG):Representatives from Singapore, Chile, and New Zealand will maintain an active JWG to oversee negotiations, monitor implementation, and propose updates, ensuring the agreement remains responsive to new developments and challenges.
• Annual Leaders’ Meetings: High-level meetings will be held to set strategic directions, resolve issues, and ensure political commitment to the partnership’s goals.

–       Technical Working Groups: Specialized teams will focus on critical areas such as interoperability of sustainability standards, sustainable finance, carbon markets, and technology exchange, fostering deep cooperation and technical alignment.

–  Private Sector Engagement:Mechanisms will be established for the inclusion of business and civil society input, allowing stakeholders to inform policies and implementation strategies, enhancing relevance and practicality of the agreement.

– Accession and Alignment: The agreement is designed to be open to new members and to complement other international frameworks like the WTO, APEC, and ASEAN’s digital economy initiatives, promoting wider adoption and coherence at the global level.

Strategic Implications and Regional Leadership

For Singapore, the progression to GEPA solidifies its role as a hub for next-generation trade norms that integrate digital innovation with climate goals. Chile and New Zealand, leaders in renewables and climate-conscious policies, stand to benefit from streamlined cross-border frameworks that enhance market access for green technologies and sustainable practices. Together, the three countries aim to set a global benchmark, encouraging interoperable, climate-aligned trade systems that can accommodate emerging green economy sectors such as sustainable aviation fuel and carbon trading markets.

Prime Minister Lawrence Wong of Singapore emphasized that growth and sustainability are no longer opposing priorities but mutually reinforcing goals enabled by advancing technology and coherent trade rules. The GEPA will help lower trade barriers, create new economic opportunities, and accelerate the green transition regionally and globally.

Conclusion

The transition from DEPA to GEPA represents a strategic pivot from a digital trade framework to a comprehensive, green and digital economic partnership. By embedding climate action into trade and investment frameworks, Singapore, Chile, and New Zealand are spearheading a novel approach to trade diplomacy—one that aligns the imperatives of digitalization and environmental sustainability. The GEPA, with its flexible governance structure and strong technical and political commitment, is positioned as a “living agreement” that will evolve alongside technological advances and global climate priorities, charting a path toward resilient, inclusive, and sustainable economic growth.

This partnership not only strengthens their trilateral cooperation but also sets a precedent for multilateral trade agreements in the digital and green economy era, reinforcing the importance of integrated solutions in addressing today’s interconnected economic and environmental challenges.