BRUSSELS : The European Union and Japan concluded an agreement on Saturday on cross-border data flows, which should drive business and may help shape global rules for data, the European Commission said.
The European Commission said the agreement would benefit companies across a range of sectors, including financial services, transport, machinery and e-commerce, allowing them to handle data without cumbersome and costly administration.
The agreement seeks to strike a balance between a freer Japanese approach and the EU's greater stress on personal protection and privacy. The two partners concluded a free trade agreement in 2015, but left open what to do about data flows. After a year of talks since October 2022, they have now filled that gap.
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