Australia: Released stabilised text of the Agreement on Electronic Commerce including measures on cybersecurity

On 26 July 2024, the Co-Convenors of the Initiative on E-commerce, Australia, Japan and Singapore, announced that the parties agreed on the stabilised text of the Agreement on Electronic Commerce. The Agreement includes measures on cybersecurity. In particular, the parties commit to enhancing national cybersecurity incident response capabilities, increasing collaboration to mitigate cyber threats, and promoting the sharing of information for improved awareness and best practices. The Agreement emphasises a risk-based approach to cybersecurity and encourages the adoption of best practices and consensus-based standards to effectively manage cybersecurity risks, detect incidents, and ensure a resilient recovery mechanism, thereby facilitating safer electronic commerce environments. The statement is circulated on behalf of the Joint Statement Initiative participants, excluding Brazil, Colombia, El Salvador, Guatemala, Indonesia, Paraguay, the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, Türkiye, and the United States.