Orgalim underlines the importance of the EU-US privacy shield agreement and standard contractual clauses for international personal data transfers
16 July 2020
Orgalim takes note of the decision by the European Court of Justice regarding the EU-US privacy shield agreement and standard contractual clauses. The EU-US privacy shield agreement and standard contractual clauses are an important means for our companies to transfer data outside the EU, as outlined under the EU General Data Protection Regulation (GDPR).
Our companies trade and have regular contact with companies based in third countries. The United States is one of the most important trading markets for our sectors, both in terms of the value of the goods exchanged and in terms of investment. The annual export value of transatlantic trade in products manufactured by Europe’s technology industries currently stands at €104 billion.
Today’s decision will have a negative impact on our export-oriented companies. This comes at a time when our industries are focused on the economic recovery and this situation will further hamper efforts to achieve this. Therefore, we call on the European Commission and other governments to find solutions that can quickly resolve the uncertainty which now exists.