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ASEAN-5: ASEAN, Australia and New Zealand sign FTA Upgrade including data localisation prohibition

Policy overview

Description

ASEAN, Australia and New Zealand sign FTA Upgrade including data localisation prohibition

On 21 August 2023, the Upgrade to the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) was signed. The Financial Services Annex prohibits parties from mandating local storage of financial data, except where necessary to protect personal in…

Scope

Policy Area
Data governance
Policy Instrument
Data localisation requirement
Regulated Economic Activity
cross-cutting
Implementation Level
bi- or plurilateral agreement
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2020-08-29
under deliberation

On 29 August 2020, the Economic Ministers from the ASEAN Member States, Australia and New Zealand m…

2022-11-13
under deliberation

On 13 November 2022, the substantial conclusion of negotiations regarding the upgrade of the Agreem…

2023-08-21
adopted

On 21 August 2023, the Upgrade to the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) wa…

2025-04-21
in force

On 21 April 2025, the Upgrade to the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) ent…