Trade ministers agree on digital trade principles during G7 trade track | Allen & Overy LLP
On October 22, 2021, the UK Department for International Trade announced that the G7 countries (Canada, France, Germany, Italy, Japan, UK and US) had agreed on a set of principles for digital commerce at the G7 trade trail.
The principles aim to demonstrate the G7’s commitment to:
- opening competitive, transparent and accessible digital markets to international trade and investment, including opposition to digital protectionism and digital authoritarianism, as well as support for an open, free and secure Internet;
- the free flow of data across borders with confidence, ensuring that unjustifiable barriers are removed while continuing to address privacy, data protection and security concerns. G7 countries will cooperate to explore commonalities in regulatory approaches and promote interoperability among G7 members, as well as support OECD work on developing common principles for reliable government access to personal data held by the private sector for national security purposes;
- safeguards for workers, consumers and businesses directly engaged in or supporting digital commerce, while businesses should not be forced or constrained to transfer technology or provide access to source code or encryption keys such as market access condition;
- digital trading systems that enable, inter alia, the digitization of trade-related documents and the streamlining of stakeholder interactions with border agencies; and
- achieve fair and inclusive global governance, focusing on adopting common rules to stimulate growth and address differences between countries’ regulations, ensuring that digital trade rules are sustainable and developing standards consistent with the principles of the World Trade Organization.