The European Commission’s Data Governance Act (DGA) represents an important opportunity to develop a better culture of data sharing in Europe, ultimately contributing to boosting Europe’s data economy as well as driving the type of data collaborations that are necessary to support eh EU’s artificial intelligence and digital transformation objectives. Data is a crucial resource for economic growth, competitiveness, innovation, job creation and societal progress – particularly with the backdrop of the recovery from the COVID-19 crisis, it is invaluable for Europe to harness this potential, digitise its industries and compete globally. It is therefore more important than ever to ensure that the power of data can be harnessed and that data can be shared and re-used. Read AmCham EU's position on the DGA here.
Cross-border data flows: a necessary part of global trade
The European Commission’s Data Governance Act (DGA) represents an important opportunity to develop a better culture of data sharing in Europe, ultimately contributing to boosting Europe’s data economy as well as driving the type of data collaborations that are necessary to support eh EU’s artificial intelligence and digital transformation objectives. Data is a crucial resource for economic growth, competitiveness, innovation, job creation and societal progress – particularly with the backdrop of the recovery from the COVID-19 crisis, it is invaluable for Europe to harness this potential, digitise its industries and compete globally. It is therefore more important than ever to ensure that the power of data can be harnessed and that data can be shared and re-used. Read AmCham EU's position on the DGA here.
To ensure the European Commission’s ambitions can become a reality, AmCham EU believes that some aspects of the proposed regulation could be clarified further. It will be important of course to ensure that the proposal achieves its stated goal of increasing data sharing in Europe, rather than unintentionally making collaboration more difficult and creating unnecessary confusion on the relationship with current legal frameworks. To help ensure the capacity of the EU’s digital ecosystem and businesses to innovate, AmCham EU outlined key recommendations touching upon the aspects of international access, data sharing services, re-use of public sector data, data altruism and the European Data Innovation Board (EDIB).
In parallel, Tanguy Van Overstraeten, AmCham EU’s Issue Lead for Privacy and Data Protection in the Digital Economy Committee, wrote a blog post emphasising the importance of cross-border data flows to the global economy, as the world’s GDP becomes ever-more digitised. Data governance must focus on enabling, rather than restricting cross-border data flows if we are to reap the full rewards of the new age of trade in digital services. Find the full blog post here.
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Irish-made AI
Developing advanced artificial intelligence (AI) capabilities is central to Europe’s digital ambitions. With a new €175 million investment, Workday is reinforcing this priority by establishing an AI Centre of Excellence in Dublin. Building on its long-standing research and development presence, the company will expand product development and create more than 200 specialised roles. Workday is also deepening its commitment to skills, partnering with national training networks and universities to equip employees with cutting-edge AI expertise. Through these collaborations, Workday is helping to drive innovation, strengthen Europe’s digital competitiveness and support the next generation of AI talent. Discover more on Invested in Europe.
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Council vote clears way for landmark EU-Mercosur free trade agreement
EU Member States’ decision to approve the EU-Mercosur free trade agreement is a major victory for the EU’s free trade agenda. For companies in the EU, the agreement promises to support deeper integration of value chains and facilitate access to a market of 284 million consumers. This will contribute to more resilient and diversified supply chains, including access to critical raw materials essential for the EU’s economic security and industrial growth.
AmCham EU praises the European Commission for its work with Member States to ensure the deal benefits all sectors of the EU economy. By concluding Mercosur’s first trade agreement with a major global partner, the EU demonstrates its commitment to open and rules-based trade. The European Parliament must now approve the agreement without delay, so that – after 25 years of negotiations – businesses and citizens can start benefiting from this deal.
Reacting to the news, Malte Lohan, CEO, AmCham EU, stressed the importance of the agreement: ‘The Council’s decision is a timely one. In today’s world, the EU needs to boost its economic competitiveness and maintain its free trade leadership. The EU-Mercosur agreement ticks both boxes’.
‘The business case is clear; the geopolitical case is clear. It is now the Parliament’s job to see the agreement across the finish line’, he added.
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No further delays: the EU-Mercosur FTA is vital for a stronger Europe
The European Council’s decision to postpone its vote on concluding the EU-Mercosur free trade agreement (FTA) is a missed strategic opportunity that threatens the EU’s credibility as a reliable partner. After more than 20 years of negotiations, the EU is once again delaying one of its most ambitious and strategic trade agreements.
The EU-Mercosur FTA’s economic benefits are clear. At a time when strengthening competitiveness, economic growth and partnerships should be paramount, the FTA provides access to a market of 284 million consumers – reducing tariff and non-tariff barriers and supporting integrated supply chains.
Beyond its economic benefits, the EU-Mercosur FTA is also an important geopolitical tool. It would anchor a long-term strategic partnership with a key region and reinforce the EU’s role as a credible advocate of rules-based trade. Amid heightened geopolitical rivalry, postponement weakens the EU’s standing and its ability to conclude ambitious FTAs elsewhere.
The EU cannot afford further delays. The EU-Mercosur FTA is vital for the region’s competitiveness, resilience and global credibility. The European Council must promptly return to this file and conclude this FTA in January.
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