Sun. Apr 21st, 2024

When data moves across borders, competition increases, opportunities for the population and companies improve -including job creation and the exchange of knowledge- and have a positive impact on the general economy of a country. This is expressed by Salesforce in the report Data Beyond Borders 3.0, in which the role of the G20 economies towards cross-border data flow is analyzed, as well as recommendations to continue benefiting from this economic and political strategy. And, the G20 has made substantial progress to allow the cross-border data flows. However, this progress also exposes an economic gap between countries that adopt open data transfer policies and those that do not. “While progress has been made in managing cross-border data flows in G20 economies since 2021, this The report shows that economies that make an effort to advance data policy and regulation are more likely to grow and be more competitive,” says Sassoon Grigorian, Salesforce vice president of Public Affairs in APAC.

Data Beyond Borders 3.0

The conclusions of the report highlight the importance of the cross-border data flow strategy for global economies. Cross-border e-commerce has grown 45-fold in the past decade and is estimated to reach $2.7 trillion by 2023. Japan and the UK lead the G20 economies in ease of cross-border data flows, followed by from Australia, Singapore, and the United States. Russia and China sit at the opposite end of the spectrum, due to their stringent data localization requirements and few regulatory eases for cross-border data flows. Argentina, Australia, Brazil, India, Indonesia, and Saudi Arabia are among the economies that have improved the most since the 2021 report, having developed or implemented legislation that promotes cross-border data flows.

open data transfer

According to Grigorian, the report still highlights concerns about data sovereignty. Therefore, it is recommended that there be a clear and internationally agreed definition of data sovereignty and that economies take advantage of international standards. Thus, countries can take steps to further facilitate cross-border data transfers and optimize them for economic growth. . These include: Developing global standards harmonizing privacy laws and aligning with principles for government access to data in the cloud Expanding digital economy agreements, such as free trade agreements, to include data provisions cross-borders.Make trusted data sharing frameworks the norm.Accelerate the digitization of businesses and public services.Clearly define data sovereignty to ensure it is global and interoperable, along with the standards to manage it

By Alvaro Rivers

Award-winning student. Incurable social media fanatic. Music scholar. Beer maven. Writer.