Business Wire

GSMA: Free Flow of Data across Borders Essential for Asia’s Digital Economies

Del

Governments in Asia can expand the region’s digital economy and unlock further socio-economic benefits for their citizens by removing unnecessary restrictions on the movement of data internationally, according to a new report released by the GSMA today at the Mobile 360 – Digital Societies conference in Bangkok. The study, ‘Regional Privacy Frameworks and Cross-Border Data Flows’, reveals that striking the right balance in the region’s data privacy regulations could significantly enhance economic activity and future innovation in 5G, the Internet of Things (IoT) and artificial intelligence (AI).

Over the past decade, international data flows have increased global GDP by 10.1 per cent, and their annual contribution to global GDP has already surpassed US $2.8 trillion1 – a larger share than the global trade in goods. The ability to transfer, store and process data enables commerce, spurs innovation, and drives the development of new technologies, platforms, services and infrastructure.

Although the Asia Pacific region has made good progress in the development of data privacy frameworks that protect consumers while also allowing data to flow across borders, the report highlights that variances in data privacy laws across countries is holding back trade and innovation. The report also calls for better links at a regional level between Asia’s two main privacy frameworks – the ASEAN Framework on Personal Data Protection and the APEC Privacy Framework – to enable cross-border data flows.

“The immense economic opportunities arising from the digital economy and data flows are indisputable,” said Boris Wojtan, Director of Privacy, GSMA. “Working towards a pan-Asian approach to data privacy is critical to protecting the rights of individuals and unlocking this economic potential, not only in Asia, but around the world. Regulating people’s personal information by a patchwork of geographically bound privacy laws will only restrict how Asian companies can innovate and bring better products and services to consumers in the future. Now is an important time for all countries to take actions to bridge the differences in their privacy regulation and achieve greater alignment.”

The study evaluated various regional data privacy frameworks and their key principles, while diving down into individual countries to identify national approaches to privacy regulation. It highlights specific steps that all countries, including less developed states, can take to support greater alignment across Asia. Some of the key recommendations included in the report are:

  • APEC and ASEAN governments should consider the options outlined in the study to bridge the differences between their respective privacy frameworks and seek interoperability with other regional frameworks;
  • Countries should advance the alignment of national-level privacy regimes by conducting a landscape analysis to see where they stand in terms of data privacy and reviewing the experience of other governments in the region to understand common paths forward;
  • Policymakers in government and privacy enforcement authorities should support deeper collaboration and cross-learning across the region; and
  • Governments should also draw on non-government privacy experts in the private sector and academia to inform their approaches.

The GSMA also today released its report, ‘Cross-Border Data Flows: Realising Benefits and Removing Barriers’, which describes the benefits of global data flows for individuals, businesses and governments, and explores the damaging impact of increased data localisation measures, which can either require companies to store data locally, or even prohibit companies from transferring personal data altogether. The report calls for governments globally to commit to removing unnecessary localisation measures and enable data to flow cross-border through improved approaches to protecting people’s data.

The ‘Regional Privacy Frameworks and Cross-Border Data Flows’ report is available here in English.

The ‘Cross-Border Data Flows: Realising Benefits and Removing Barriers’ report is available here in English.

-ENDS-

Notes to Editors:

1. McKinsey Global Institute, ‘Digital Globalisation: The New Era of Global Flows’ (2016)

About the GSMA

The GSMA represents the interests of mobile operators worldwide, uniting more than 750 operators with over 350 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organisations in adjacent industry sectors. The GSMA also produces industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai, Mobile World Congress Americas and the Mobile 360 Series of conferences.

For more information, please visit the GSMA corporate website at www.gsma.com. Follow the GSMA on Twitter: @GSMA.

Contact information

For the GSMA
Prang Sukhasvasti Na Ayudhya
+662 343 6000 Ext. 118
psukhasvasti@webershandwick.com
or
GSMA Press Office
pressoffice@gsma.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

IFF to Release Fourth Quarter and Full Year 2018 Results February 1322.1.2019 21:15Pressemelding

Regulatory News: International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) (TASE: IFF), a leading innovator of scent, taste, and nutrition, announced that it will release its fourth quarter and full year 2018 earnings results following the market close on Wednesday, February 13, 2019. The management team will host a live webcast on Thursday, February 14, 2019 at 10:00 a.m. ET to discuss results and outlook with the investor community. Investors may access the live webcast and accompanying slide presentation on the Company's website at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available for replay. Meet IFF International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) (TASE: IFF) is a leading innovator of scent, taste, and nutrition, with over 110 manufacturing facilities, 100 R&D centers, and 33,000 customers globally. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what i

Gilead Sciences to Release Fourth Quarter and Full Year 2018 Financial Results on Monday, February 4, 201922.1.2019 21:05Pressemelding

Gilead Sciences, Inc. (Nasdaq: GILD) announced today that its fourth quarter and full year 2018 financial results will be released on Monday, February 4, after the market closes. At 4:30 p.m. Eastern Time, Gilead’s management will host a conference call to discuss the company’s financial results for the fourth quarter and full year 2018 and provide a business update. The live webcast of the call can be accessed at the company’s Investors page at http://investors.gilead.com/. Please connect to the company’s website at least 15 minutes prior to the start of the call to ensure adequate time for any software download that may be required to listen to the webcast. Alternatively, please call 877-359-9508 (U.S.) or 224-357-2393 (international) and dial the conference ID 3826138 to access the call. Telephone replay will be available approximately two hours after the call through 8:00 p.m. Eastern Time, February 6, 2019. To access the replay, please call 855-859-2056 (U.S.) or 404-537-3406 (int

Oxford Nanopore Prevails in Patent Ruling against Pacific Biosciences22.1.2019 17:04Pressemelding

Today the European Patent Office revoked Pacific Biosciences patent EP3045542 with claims to a single molecule sequencing process wherein two strands of DNA are linked by a connecting nucleic acid. The validity of the patent had been challenged by Oxford Nanopore. The EPO ruled that the claims to a single molecule sequencing process were unsupported in the application and that the application only supported a template-directed synthesis sequencing method. As Pacific Biosciences were unwilling to accept this change, the patent was revoked. The decision by the EPO is consistent with a recent decision by the International Trade Commission (ITC) to limit the claims of a related Pacific Biosciences US patent to template-directed synthesis. View source version on businesswire.com: https://www.businesswire.com/news/home/20190122005733/en/ Contact information Oxford Nanopore Zoe McDougall media@nanoporetech.com Website: https://nanoporetech.com/

Värde Partners Names New Partners, Additional Deputy CIO22.1.2019 17:00Pressemelding

Värde Partners is pleased to announce the appointment of Elena Lieskovska and Haseeb Malik to Partner, and the promotion of Brad Bauer to Deputy Chief Investment Officer. “It gives me great pleasure to announce the promotions of three individuals who have been instrumental in the success of our firm through their investing expertise, leadership and integrity,” said George Hicks, Co-Founder and CEO of Värde Partners. “Brad, Elena and Haseeb have all made significant contributions to Värde’s culture, global presence, and, most importantly, delivering returns to our investors.” Based in London, Elena is Head of European Financial Services, responsible for Värde’s private equity investments in specialty finance companies and related businesses in Europe. She joined the firm in 2008 and over the past decade has helped establish the firm as a leader in the consumer finance space, building large credit platforms. Haseeb is Head of Asia Corporate and Traded Credit. Based in Singapore since the

Citi Announces Inaugural Green Bond Issuance22.1.2019 17:00Pressemelding

Citi today announced the issuance of the firm’s first green bond, further enhancing its commitment to environmental and climate finance. The bond will fund renewable energy, sustainable transportation, water quality and conservation, energy efficiency and green building projects financed as part of Citi’s $100 billion Environmental Finance Goal. In the deal, which priced on 22nd January 2019, Citi issued €1 billion 3-year fixed rate notes. The transaction marks the first green bond offering from Citigroup Inc. “We are proud to start the year with the launch of our inaugural green bond,” said Jamie Forese, President of Citigroup and Head of the Institutional Clients Group. “This transaction represents an important next step in expanding Citi’s commitment to sustainable growth. This bond also further enhances our green bond expertise, strengthens our partnerships with clients around the world and responds to increasing investor interest in sustainable finance.” In 2015, Citi announced a

NGINX Has Modernized Full API Lifecycle Management22.1.2019 15:44Pressemelding

NGINX, Inc., the company based on the popular open source project and offering a suite of technologies designed to develop and deliver modern applications, today announced general availability of its API Management Module. The API Management Module for NGINX Controller is part of the NGINX Application Platform, a modular and integrated set of technologies to help organizations create applications with performance, reliability, security, and scale. The NGINX API management solution enables infrastructure and operations (I&O) teams to define and publish APIs, manage traffic to and secure backend applications, monitor performance issues, and analyze API usage. NGINX API Management Module is built on an innovative architecture that provides three unique benefits: Proven – NGINX combines new control-plane functionality with the raw power and efficiency of NGINX Plus, the industry’s most deployed API gateway. NGINX software powers more than 350 million websites and, according to our 2018 use