The American Chamber of Commerce Ireland has welcomed the adoption today by the European Commission of the EU-US Privacy Shield.
Speaking following the announcement of the new framework Chief Executive of the American Chamber Mark Redmond said “Cross-border flows of data and information are an essential element of the modern economy and now generate more economic value than the exchange of goods. The US and the EU are each other’s most important trading partner in digital services. The adoption of this agreement will be of benefit to businesses of all sizes on both sides of the Atlantic. Furthermore it includes significant new oversight mechanisms designed to address concerns about personal data protection. The timely implementation of the Privacy Shield agreement will remove a significant source of uncertainty for companies in the conduct of their businesses.”