European Union and Japan sign historic agreement on cross-border data flows

Strengthen institutional and commercial relationships

The agreement eliminates data localization requirements, which will allow companies in the EU and Japan to transfer data more efficiently and securely. The agreement is a milestone in economic cooperation between the EU and Japan, and lays the foundations for a more digitalized future.

La European Union maintains a EU-Japan Economic Partnership Agreement which came into effect on February 1, 2019. Companies in the UE They export more than 28 million euros in goods and 58 million euros in services to Japan every year. The EU-Japan Economic Partnership Agreement reduces the trade barriers that European companies face when exporting to Japan and helps them compete better in this market.

Now, after the trade meeting of G7 on October 28, in which the European Commissioner for Trade participated, Valdis Dombrovskis; the head of the Japanese Economy, Commerce and Industry, Nishimura Yasutoshi; and the Japanese foreign minister, Yoko Kamikawa. The European Union and Japan strengthen their institutional and economic ties with the implementation of an agreement that the European Union itself has called historic.

This is an agreement on cross-border data flows. The agreement, which was adopted on Saturday during the G7 meeting, eliminates data localization requirements, which will allow companies in the EU and Japan to transfer data more efficiently and securely.

«Este acuerdo es un hito en nuestros esfuerzos conjuntos por avanzar en la digitalización de nuestras sociedades y economías», dijo el comisario europeo de Comercio, Valdis Dombrovskis. «Los flujos transfronterizos de datos son un factor crucial para este desarrollo».

The agreement is an important step in economic cooperation between the EU and Japan. The two economies are the world's leading digital powers, and the agreement will help drive innovation and growth in both markets.

The agreement is also a strong message against digital protectionism. By eliminating data localization requirements, the agreement ensures that companies can transfer data securely and efficiently, regardless of its location.

The agreement will come into force once it is ratified by the EU and Japanese parliaments.