Yesterday in Toronto, Commissioner for Trade and Economic Security, Maroš Šef\u010Dovi\u010D, and Canada\'s Minister for International Trade Maninder Sidhu launched negotiations for an EU-Canada Digital Trade Agreement (DTA).

The EU and Canada have begun to negotiate a so-called ‘Digital Trade Agreement’ (DTA), alongside Europe’s clash with the US on digital regulation.

The DTA is to boost legal certainty and fair digital trade across the Atlantic Ocean.

Negotiations for the new deal were announced on Friday (6 March) and will build on the 2017 EU-Canada Comprehensive Economic and Trade Agreement.

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The aim of the collaboration is to create digital consumer protection, add legal certainty for businesses operating digitally (for example, clarifying the legality of electronic signatures, contracts, and invoices), and to achieve fair digital trade, shielded from protectionist data or digital practices.

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Digital trade is growing in size and importance, with over 60% of global GDP linked to digital transactions. The EU is the world’s leading exporter and importer of digitally deliverable services. As of 2023, 54 % of the EU’s service trade was conducted digitally, amounting to €670 billion in imports and €661 billion in exports from outside the EU. This includes, for example, telecommunication services, computer and information services, and other services that are typically delivered digitally (financial services, insurance and pension services, etc).

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  • masterspace@lemmy.caEnglish
    1·
    2 days ago

    Promote fair digital trade by prohibiting unjustified data localisation requirements and forced transfers of software source code, thereby protecting businesses from protectionist practices and fostering confidence in digital markets.

    Assuming that the EU is taking the position that the GDPR is justified, does this signal we might be adopting something similar? 🤞