ICC welcomes EU member states endorsement of the privacy shield
Last week the International Chamber of Commerce (ICC) welcomed European Union (EU) member state endorsement of the new draft adequacy decision for data transfers between the United States (US) and the EU, known as the privacy shield.
“EU member state endorsement of the EU-US privacy shield is an important step for the transatlantic economy and the information society which is reliant on data flows,” said Chair of the ICC Commission on the Digital Economy Joseph Alhadeff.
The strong EU member state support for the privacy shield will start the ball rolling on the formal adoption of the privacy shield legal texts. This decision brings global business closer to the vital legal certainty needed for cross border data flows which contribute immensely to world GDP.
ICC recognizes the tireless efforts of the respective parties of the EU and the US to restore trust in data transfers between the EU and US and to ensure that a strong and thriving digital economy continues to contribute to economic growth and competitiveness within the EU and across the globe.
