Businesses and Manufacturers in Every Country and Sector Depend on Data Flows to Operate, Innovate and Prosper
Washington – Business Roundtable, representing CEOs of major U.S. companies operating in every sector of the economy, today released a new report that calls on policymakers around the world to promote cross-border data flows to drive global economic growth. In the report, Putting Data to Work: Maximizing the Value of Information in an Interconnected World, America’s CEOs describe the economic and societal benefits to countries that promote cross-border data flows.
“Modern businesses rely on data to operate, innovate and prosper,” said Maggie Wilderotter, Chairman and CEO of Frontier Communications Corporation, and Chair of the Business Roundtable Information and Technology Committee. “The ability for U.S. companies both large and small, to connect to business units, trading partners, workers and customers is essential to economic growth here at home and in every country around the world.”
“Businesses and their customers – and governments and their citizens – gain enormous benefits by embracing cross-border data flows,” said Michael Roth, Chairman and CEO of The Interpublic Group of Companies, Inc., and Chair of the Business Roundtable Global IT Subcommittee. “It is critical that we reverse the trend of laws and regulations that unnecessarily restrict the movement and use of data across national borders. By fully appreciating the impacts and costs of these policies, we can achieve more balanced approaches that address reasonable concerns without economic harm.”
The report concludes that sustained global growth and prosperity hinges on preserving interconnectedness and putting data to work around the world. We can minimize trade barriers, promote cross-border business investment and maximize benefits for all stakeholders, while providing practical solutions that address reasonable government policy considerations.
For more information on Business Roundtable recommendations for eliminating barriers to cross-border data flows, click here.