Singapore, New Zealand and Chile announced in a joint statement that negotiations on the Digital Economy Partnership Agreement (DEPA) have reached a substantial conclusion, and most of the points have been settled among the three countries. The agreement aims to tackle the effects of the digital transformation of the economy, which are fundamentally changing the landscape of global trade. It will cover several digital policy areas, including digital identities, data flows, and artificial intelligence (AI). According to the statement, DEPA will complement other ongoing efforts, such as the WTO Joint Statement Initiative negotiations on e-commerce, as well as digital economy work streams within APEC. The agreement is also open to the participation of 'other like-minded partners'. The next phase will be working towards getting DEPA formally signed.