European Commission’s Post

🇪🇺🇯🇵📣Great milestone achieved!!! This entry into force of this agreement also promotes the concept of ‘Data Free Flow with Trust’, a guiding principle for international cooperation on data flows, based on our shared values. It allows us to lay the foundation for a common approach on digital trade, acting against arbitrary unjustified restrictions to data flows, while promoting shared prosperity. Background 💭 In October 2022, the EU and Japan decided to start the negotiations to include rules on cross-border data flows in their EPA. 🌐 The value of the fast-growing EU-27 data economy was estimated at €325 billion in 2019, representing 2.6% of gross domestic product (GDP). It is expected to almost triple by 2025, reaching about €830 billion (5.8% of the EU's overall GDP). For Japan, data economy was estimated to represent 1.2% of GDP in 2019.

📢 How will #EU #Japan #datatransfer work? 🤗 Join us in person in Brussels on 🗓 12 December for a 60-minute briefing session on the EU-Japan data flow agreement, where Vanda Markovic from #dgtrade explains what the new data flow #agreement means for EU and Japanese businesses! 📌Apply by 4 Dec 🔍 https://lnkd.in/eYSdhmcq #eujapanepa, #eujapanbrt, #eujapan, #eujapandigitalpartnership

Update : The text of the 🇪🇺🇯🇵 cross-border data flows agreement is now available at https://lnkd.in/gk_SkUNt A #MustRead as this is the missing bit that will complete the #EUJapanEPA and will be a crucial element in achieving the #digitaltransformation and in implementing the #eujapandigitalpartnership

EU-Japan deal on data flows enters into force. The EU-Japan Economic Partnership Agreement (EPA) promotes the ‘Data Free Flow with Trust,’ a guiding principle for international cooperation on data flows based on our shared values. Cross-border data flows are a crucial enabler of digital trade.  An important element of the deal is the removal of costly data localization requirements, ensuring companies are not required to physically store their data locally. Businesses within can now handle data more efficiently in a predictable legal environment without cumbersome administrative or storage requirements.  

#Interview | To assess the state of digitisation in trade, in an exclusive interview, we speak to Nick Kerigan, MD & Head of Innovation at Swift about ‘digital islands’, APIs that enable eBL and digital trade use cases, and the future of digital trade in Asia Pacific. #digital #API #trade

For the future efforts on #trusteddatasharing and #dataspaces in data ecosystems clarity on terms related to cross-border data transfers, including precise definition of both 'important data' and 'personal information' is utmost important. International Data Spaces Association (IDSA) welcomes and supports the work of the European Union Chamber of Commerce in China on this topic. Boris Otto | Reinhold E. Achatz | Catena-X | Joshua Gelhaar | Dandan Wang | Carlos Eugenio González Ruiz | Frank Goeller

EU-Japan Data Flow Agreement: A Milestone for Digital Trade 🇯🇵🇪🇺 The EU and Japan have implemented a landmark agreement on cross-border data flows, effective from July 1, 2024. This deal is integrated into the existing EU-Japan Economic Partnership Agreement (#EPA) and focuses on facilitating digital trade while maintaining high data protection standards. https://lnkd.in/epVexKg8 Here are the key points: The EU's data economy was valued at €325 billion in 2019, expected to reach €830 billion by 2025. For Japan, the data economy was 1.2% of GDP in 2019. The agreement aims to further enhance these economies by streamlining data exchanges. Sectors benefiting include financial services, transport, machinery, and e-commerce. The agreement eliminates data localization requirements, reducing costs and complexities for businesses. Companies can now handle data more efficiently without unnecessary administrative burdens. The deal builds on the 2019 mutual adequacy arrangement where the EU and Japan recognized each other's data protection systems as equivalent. This ensures free and secure data flows, maintaining high privacy standards. 👉The agreement promotes "Data Free Flow with Trust," countering digital protectionism and arbitrary restrictions. It aligns with the EU’s digital agenda and the digital trade goals of the EU's Indo-Pacific Strategy. Importance for #Global #Supply #Chain Data Ecosystems This agreement is crucial for data ecosystems in global supply chains as it involves cross-border trust mechanisms for transactions across multiple jurisdictions. By establishing a common framework for data flows, it ensures that businesses can operate more seamlessly and securely on a global scale. Starting with #Bilateral #Use #Cases in a Multi-polar World 🌎: We recommend initiating bilateral use cases in specific domains such as #automotive, #manufacturing, #cosmetics, or #FMCG. These sectors can benefit significantly from streamlined data handling and reduced administrative burdens, enhancing efficiency and competitiveness. Our #Expertise at Spherity At Spherity, we are actively working with our #EU and #Japanese customers to implement organizational identity solutions, trusted data sharing, and digital product passports (#DPPs) for supply chain use cases. Our efforts align with the principles of the EU-Japan data flow agreement, promoting secure and efficient cross-border transactions. Our #VERA #Studio #DPP #Platform We invite you to explore our VERA Studio DPP platform for easy field testing. Our platform is already being tested in Japan. Interested in our expertise and solutions for trusted data sharing in supply chains and VERA DPPs? Get in touch! www.spherity.com DNP Dai Nippon Printing Co., Ltd. Catena-X Manufacturing-X energy data-X Cofinity-X Factory-X - The Digital Ecosystem Fujitsu

🌏 **Entry into Force of the EU-Japan Data Flow Agreement** 📊✨ On July 1, the data flow agreement between the EU and Japan came into effect. This agreement, integrated into the EU-Japan Economic Partnership, aims to facilitate commercial exchanges between companies in both regions and combat digital protectionism. Now, businesses can process data more efficiently, without excessive administrative burdens. Moreover, the agreement promotes the concept of "Data Free Flow with Trust," fostering international cooperation on data matters. 🔗 **Learn more**: [EU-Japan Data Flow Agreement](https://lnkd.in/eV5kXf4R) #EUJapan #DataFlow #InternationalTrade #Digital #DataFreeFlowWithTrust 🌐🚀

🌍 Insights into the US-Kenya Digital Trade Negotiations 🌍 Discover the pivotal role of cross-border data flows within the strategic US-Kenya trade negotiations, derived from extensive desktop research. These discussions under the Strategic Trade and Investment Partnership (STIP) are shaping the future of digital trade and data management globally. Key takeaways include: - The critical importance of digital trade and data flows in modern economies. - Comparative analysis of data regulation strategies by the US and Kenya, balancing economic benefits with privacy protection. - Predictions on how evolving digital trade policies might influence global standards for data exchange. Explore the potential impacts of these negotiations on international trade and data privacy. Read our thorough analysis for more on this essential topic. 📊 🔗 https://lnkd.in/eB-pZn86 #crossborderdataflows #dataprotection