US-ASEAN Business Council Offers Industry Expertise on Digital Payments in Exclusive Roundtable with DEFA Negotiators
(Bali, Indonesia) – On September 9, the US-ASEAN Business Council (USABC) partnered with the ASEAN Business Advisory Council (ASEAN-BAC) for an exclusive roundtable discussion with the ASEAN Digital Economy Framework Agreement (DEFA) Negotiating Committee. USABC brought together prominent industry leaders in the payments and financial services sector to amplify dialogue with the DEFA negotiators, aiming to address key issues facing the digital economy landscape within ASEAN.
The discussion centered around three main topics relevant to ASEAN under DEFA: developing a robust digital payment ecosystem; developing a skilled digital workforce; and digital IDs. On the sidelines of the roundtable, the USABC delegation engaged in bilateral dialogues with DEFA negotiators from Indonesia, Laos and Cambodia. These engagements provided opportunities to dive deeper into country-specific challenges and opportunities, further aligning the expertise of U.S. companies with ASEAN’s digital transformation goals.
“The progress of DEFA is substantial for ASEAN to drive digital innovation that will bring in sustainable and resilient economic growth for ASEAN’s member countries,” said Amb. Brian McFeeters, Senior Vice President and Regional Managing Director of USABC. “We believe that developing a robust digital payment ecosystem is integral in DEFA, particularly as a key enabler for e-commerce and digital trade, which are essential for enhancing regional connectivity.”, he added.
As ASEAN advances its DEFA process, USABC remains committed to supporting collaborative initiatives between the public and private sectors, driving innovation, and contributing to the region’s long-term economic resilience and growth. USABC’s participation in the roundtable was supported by Amazon Payments, Citi and Mastercard.
