Washington, D.C., July 11, 2016 – The United States Council for International Business (USCIB) strongly supports the July 8 vote to approve the EU-U.S. Privacy Shield by the Article 31 Committee, a group composed of representatives from each of the European Union’s 28 Member States. The Privacy Shield framework will serve as a new mechanism governing the transatlantic transfer of data to replace the previous “Safe Harbor” arrangement, which the European Court of Justice invalidated in October 2015. EU Justice Commissioner Vera Jourova is expected to sign it officially in the near future.
“The favorable vote by the Article 31 Committee on July 8 is a credit to the tireless and concerted efforts of negotiators from the European Union and the United States to realize a new, stronger privacy protection mechanism governing transatlantic data flows,” said USCIB President and CEO Peter Robinson. “The new framework will provide greater certainty for business and confidence for consumers, which, in turn, will promote business activities and investments yielding increased economic and societal benefits for all. USCIB encourages both governments to implement the new Privacy Shield in a timely manner.”
The International Chamber of Commerce (ICC) also issued a statement welcoming the EU’s endorsement of the privacy shield, saying the endorsement is an important step for the transatlantic economy.
Jonathan Huneke, VP Communications, USCIB
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USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network – encompassing ICC, the International Organization of Employers, and the Business and Industry Advisory Committee to the OECD – USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. www.uscib.org.