The protection of personal data is a fundamental right that is enshrined in the EU Charter of Fundamental Rights and in every European country’s constitution. This right has been central for European law for years and has led to the adoption of Regulation (EU) 2016/679 or simply known as General Data Protection Regulation (GDPR). To be more precise, the matter is envisaged in Chapter V – “Transfers of personal data to third countries or international organisations.
It is worth noting that consumers round the world cherish and value their privacy. In return, companies recognise that the stronger privacy protection, the higher the confidence in their services. A strong privacy always means competitive advantage.
A key objective of the GDPR with regard to the topic in discussion is to make the transmission of personal data to third countries easier, while at the same time maintaining a high level of data protection.