YANGON, Nov. 16 (Xinhua) -- Myanmar's Union Parliament has ratified the Association of Southeast Asian Nations (ASEAN) Agreemnt on e-commerce, Myanmar News Agency reported Friday.
The approval was made on Thursday at the 10th session of the Union Parliament in Nay Pyi Taw.
The ASEAN economic ministers signed the ASEAN Agreement on e-commerce Wednesday on the sidelines of the summit of the ASEAN and related meetings in Singapore.
The agreement seeks to facilitate cross-border e-commerce transactions and create an environment of trust and confidence in the use of e-commerce.
The new deal encourages cooperation among ASEAN member states to help businesses, especially small and medium-sized enterprises, overcome obstacles and take advantage of electronic commerce.
The agreement entails cooperation on policies regarding information and communication technology infrastructure, education and technology, online consumer protection, e-commerce frameworks, electronic security, electronic payments and settlements, and trade facilitation.
It aims to deepen cooperation among member states to further develop and intensify the use of e-commerce to drive economic growth and social development in the region.