Last week, at the APEC Third Senior Officials Meeting (SOM 3) in Ho Chi Minh City, Vietnam, Vice President Barbara Wanner took part in APEC’s Electronic Commerce Steering Group (ECSG). The steering group wrapped up four days of meetings that included formal announcement that South Korea was approved to become the fifth APEC member economy to participate in the Cross-Border Privacy Rules (CBPR) system. Singapore also indicated it has submitted dual applications to be certified under the CBPR system and the complementary Privacy Recognition for Processors system.
The meetings also featured a dialogue with the European Commission concerning possible approaches to realize inter-operability of the CBPR and EU General Data Protection Regulation (GDPR) as well as consideration of a U.S. government proposal to “Modernize the ECSG.”
The latter is aimed at broadening the scope of the ECSG work to address arising from digital transformation of the economy. USCIB will pursue collaboration with other global trade associations on a statement supporting this initiative.
In a key SOM 3 side event, Vietnam’s industry and trade ministry organized a public-private dialogue, “Facilitating MSMEs to Adopt Cross-Border E-Commerce,” which explored how to facilitate greater participation by micro, small and medium-sized enterprises in cross-border electronic commerce in APEC through participation in the CBPR system. The event also examined the applicability of the APEC Framework on Cross-Border E-Commerce Facilitation, and sought to enhance understanding of the trade promoting benefits of the e-commerce chapters of the Trans-Pacific Partnership and other regional trade agreements.