parties have completed the legal requirements and procedures since.
"With the UKSDEA, benefits to businesses include end-to-end digital trade such as safe and secure e-payments and paperless trading, as well as seamless and trusted data flows, which encourage participation in the digital economy. Consumers will enjoy greater online consumer protection, as well as safe and secure cross-border payments.
The UKSDEA has also led to memoranda of understanding and letters being signed and exchanged on the side, to establish collaboration in areas of cyber security and fintech among others. The UK government has described the UKSDEA as the world's most innovative trade agreement linking two of the world's most dynamic high-tech and services hubs, noting that"it will cut costs, slash red tape and pave the way for a new era of modern goods trade between the UK, Singapore and the wider region".
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