Ibec welcomes political agreement on transatlantic flows
Ibec welcomed today’s announcement by European Commission President Ursula von der Leyen and US President Joe Biden of a political agreement in principle for transatlantic data flows.
Erik O’Donovan, Ibec Head Digital Economy Policy said: “Today’s announcement is a positive development and a welcome political signal on safeguarding transatlantic data flows. We continue to encourage the EU and US in their ongoing efforts to finalize a revised and resilient framework addressing privacy issues and the needs of modern digitalised business, big and small.”
Research shows 90% of EU-based companies from all economic sectors transfer data outside Europe, often to multiple countries, and that these transfers are predominantly used for business-to-business purposes. Ibec estimate that there were over 248,000 employed in digitally intensive sectors in Ireland.