The EU and the USA agreed on new basis for data flows

The Tuesday’s announcement of an agreement between the EU and the US on a revised framework for international data flows (the “EU-US Privacy Shield”) is of utmost importance for businesses and citizens in Europe and the United States.

The BUSINESSEUROPE invites the national data protection supervisory authorities to contribute to the agreement’s good functioning and to guarantee a consistent European approach to the data transfer across the Atlantic. According to the BUSINEESSEUROPE, there is necessary to finalize the details of the agreeement and to secure the transition period for the companies to adopt to it.

The informations concerning the negotiations will be presented by the European Commissioner for Justice, Consumers and Gender Equality Věra Jourová at the Article 29 Working Party’s session composed of the national data protection authorities’ presidents on Thursday 4th February. The Confederation of Industry awaits the informations how much the agreement is legally binding now.

Since the invalidation of the existing Safe Harbor framework by the European Court of Justice (ECJ) on 6 October 2015, the ability for companies to transfer data from the EU to the US has been seriously undermined.

“The free flow of data between the EU and the US is the most important in the world, the BUSINESSEUROPE’s director general Markus J. Beyrer stressed. “This agreement is essential because it provides a reliable framework for international data transfers.”

The new framework should benefit innovation, job-creation, and economic growth both in Europe and the United States. In a letter to European Commission President Juncker and to US President Obama, BUSINESSEUROPE, together with its counterparts US Chamber, DIGITALEUROPE and ITI, stressed the urgent need of a reliable framework for international data transfers.

“It is now important to swiftly finalise the details of the newly reached agreement and then grant companies a reasonable transition period to comply with it,” Beyrer added. “Especially small and medium- sized enterprises will need time to adapt.”

BUSINESSEUROPE calls on national authorities to contribute constructively to the good functioning of the new arrangement and ensure a consistent European approach to transatlantic data transfers. This will help ensure common rules in the digital single market to the benefit of Europe’s economy”.