Data Free Flow with Trust, a central point of discussion at the G7 Digital & Tech Ministers’ Meeting in Gunma, Japan
For the April 2023 G7 Digital and Tech Ministers’ meeting taking place in Gunma, Japan, the World Economic Forum Data Policy workstream shared its latest publication entitled “From Fragmentation to Coordination: The Case for Establishing an Institutional Mechanism to Ensure the Success of Cross-Border Data Flows”, addressing and highlighting Data Free Flow with Trust (DFFT).
Reviewing the progress on cross-border data flows in recent years, the publication highlights the importance, challenges and institutional mechanism to secure global free flows of data. As a World Economic Forum Tech Pioneer and Global Innovator, Dawex highly contributed to the works on Data Policy and DFFT.
Data sharing and data exchange was core to the discussions held by the G7 Digital & Tech Ministers in Gunma. These discussions resulted in the adoption by the Ministers of the vision for operationalizing DFFT in order to facilitate cross-border data flows, as well as the establishment of an Institutional and Arrangement for Partnership (IAP) to address data sharing. The G7 Digital & Tech Ministers explored 5 essential points to support a strong digital economy where DFFT was listed as #1 priority:
- Facilitation of cross-border data flows and Data Free Flow with Trust
- Secure and resilient digital infrastructure
- Internet governance
- Emerging and disruptive technologies in innovating society and economy
- Responsible AI and global AI governance
- Digital competition
On the topic of easing cross-border data flows and operationalizing DFFT, G7 Digital & Tech Ministers have agreed upon the establishment of IAPs aimed at bringing together stakeholders, data governance experts and data protection authorities to discuss various topics to strengthen the digital economy including:
- Development of compatible policies, tools, and practices for enabling data flows in full compliance with existing regulatory requirements
- Privacy enhancing technological developments
- Legal practices such as model contractual clauses and certification mechanisms
Additionally, the G7 Digital & Tech Ministers identified data localisation, regulatory cooperation, trusted government access to data and data sharing as areas to focus on.
Data sharing and data exchange have indeed demonstrated the value creation and how it can contribute to addressing global challenges such economical, environmental, healthcare & sanitary conditions, sustainability, climate changes and mobility. Data exchange and the creation of data ecosystems have become a fundamental component of business competitiveness and economic sovereignty. A growing number of public and private organizations are placing data exchange in their strategic agenda to foster innovation and economic growth.
This is exciting to see the direction the market is undertaking, confirming the vision that Dawex has had since its inception.
Cross-border data flows are essential to building a strong economy and addressing the global challenges the world is facing. Progress has been made at European and international level where regulatory bodies, institutions, think tanks are working towards defining data policies, norms, frameworks and best practices.
The world is advancing, looking at operationalizing DFFT. Building trusted data transactions is essential to the global digital economy.
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