Japan has become the third economy of the Asia-Pacific EconomicCooperation (APEC) forum to be accepted into its cross-border privacyrules system, strengthening the protection of consumer data and loweringregulatory compliance costs for businesses in the region.
APEC Electronic Commerce Steering Group Chair Lourdes Yaptinchay said ina press briefing on May 1 that building the capacity of APEC economiesto put the system into place is a priority area of collaboration in thebloc.
The system was created by regional officials andtechnical experts within the APEC Electronic Commerce Steering Group(ECSG), in coordination with the private sector, and endorsed byregional leaders in Honolulu, the US, in 2011.
It requiresfirms in participating economies to develop their own internal businessrules on cross-border data privacy procedures.
Entry intothe system is determined by a joint oversight panel within the ECSGwhich examines applicants’ domestic laws and regulations, and theirplans to enforce the system.
Japan’s approval follows thatof the US, the first APEC economy to join the system in 2012, and Mexicowhich was accepted last year.-VNA
APEC Electronic Commerce Steering Group Chair Lourdes Yaptinchay said ina press briefing on May 1 that building the capacity of APEC economiesto put the system into place is a priority area of collaboration in thebloc.
The system was created by regional officials andtechnical experts within the APEC Electronic Commerce Steering Group(ECSG), in coordination with the private sector, and endorsed byregional leaders in Honolulu, the US, in 2011.
It requiresfirms in participating economies to develop their own internal businessrules on cross-border data privacy procedures.
Entry intothe system is determined by a joint oversight panel within the ECSGwhich examines applicants’ domestic laws and regulations, and theirplans to enforce the system.
Japan’s approval follows thatof the US, the first APEC economy to join the system in 2012, and Mexicowhich was accepted last year.-VNA
