JUL 02, 2020
Can Free Trade Continue? Cross-Border Data Transfers Will Become Important
Nikkei, July 2, 2020
By Nihon Keizai
Nikkei interviewed experts in and out of Japan, including BSA's Jared Ragland, about the future of free trade frameworks.
BSA Senior Director of Policy Jared Ragland said, "Cross-border data transfers will promote innovation and job creation in every country and sector. The use of cloud computing, blockchain, data analytics, and AI will bring increased productivity and security. As the global gross domestic product (GDP) becomes more digitized, cross-border data transfers will become increasingly important. It is estimated that by the year 2022, 60% of global GDP will be digitized."
He continued, "What is needed now is a framework which enables consistency and interoperability amongst the nations. While maintaining protection of privacy and critical infrastructure, each country should work to create a framework to minimize restrictions on data transfer to maintain fair and equitable market competition. There are bilateral and multilateral frameworks such as the Australia-Singapore Digital Economy Agreement, as well as the WTO, which are important forums to initiate discussions. The Global Data Alliance, which makes recommendations on data flow policies, supports these efforts from the industry side."
Original Posting: https://www.nikkei.com/article/DGXKZO61031540R00C20A7TCS000/
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