Data flows
Continued fast paced digitization of advanced and developing economies continues to elevate the importance of electronic data transfers to ensure that international trade continues to flourish. There are no international agreements in place to regulate international data flows in a predictable way, as digitization of industries, IoT, Industry 4.0 and etc is expected to take off, absence of predictable international data transfers will put societies, citizens and economies at risk. Contrary to popular view it is possible to create predictable rules that both foster open international data flows and protect national privacy standards.