EU OKs New Zealand Data Protection Standards to Boost Trade
New Zealand's data protection standards are compatible with EU law, paving the way for more trade with Europe, the European Commission said Wednesday. Personal data is increasingly transferred across borders and stored on servers in countries within and outside the…
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EU, and stable rules for such transfers beyond Europe are needed, it said. There are also benefits for the economy and trade, it said. Rules which recognize the adequacy of data protection standards make life easier for EU businesses by giving them legal certainty in their international operations, it said. New Zealand is a key member of the Asia-Pacific Economic Cooperation forum; total trade in goods between it and the EU comes to $8.9 billion annually.