On Saturday 28 October, in the margins of the G7 trade ministers’ meeting in Osaka, the European Union and Japan reached an agreement on cross-border data flows.
In practical terms, this agreement should make it possible to process data more quickly in a number of sectors, such as transport, e-commerce and finance, and reduce administrative and storage costs.
To this end, the EU/Japan agreement provides for the removal of data localisation requirements to “allow companies to avoid...