Close Menu
    Latest Category
    • Finance
    • Tech
    • EU Law
    • Energy
    • About
    • Contact
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Login
    • EU News
    • Focus
    • Guides
    • Press
    • Jobs
    • Events
    • Directory
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Home » Retailers and wholesalers need competitive, secure data spaces to drive digital growth

    Retailers and wholesalers need competitive, secure data spaces to drive digital growth

    npsBy nps25 November 2020Updated:2 July 2024 No Comments2 Mins Read
    — Filed under: Focus
    Share
    Facebook Twitter LinkedIn Pinterest Email
    — last modified 25 November 2020

    EuroCommerce Director-General Christian Verschueren spoke today on the publication of the Commission draft Data Governance Act, which promotes data sharing and a common European Data space:


    Advertisement


     “All sectors and ecosystems rely heavily on data, and the ability to share it safely.  Our sector has acted to embrace the opportunities of the data economy to meet ever-changing consumer demands and to help us grow our businesses. The COVID crisis has accelerated the already rapid digitalisation of retail and wholesale.”

    The European data economy is set to be worth more than ?1,000 billion in 5 years’ time and will be a major driver of the economic growth and global competitiveness Europe needs in the coming years to overcome the crisis.

    The data economy helps our sector to foster innovation and improve services to consumers and business customers. We believe in the need to encourage international data flows with trusted partners that meet the safety, privacy and security requirements Europe’s citizens expect. Now, more than ever, international cooperation and data sharing will be needed to spur recovery.

    That is why we are pressing for a framework for European-based,  data driven eco-systems which can compete globally. Common European Data Spaces must provide legal certainty, secure privacy and cybersecurity, and competition safeguards. Much of this can be achieved with proper implementation of existing regulation, and promoting, within competition rules and protecting IP rights, cross-sectoral data sharing between different data spaces. This is a priority for a sector like ours which depends on a wide range of suppliers and is at the centre of many ecosystems.

    Mandatory data sharing should only be a last resort in case of market failure; voluntary sharing should be the norm, and will be core to building a stronger data economy. But this needs trust among players and a secure, safe, and trustworthy environment for data sharing.

    Verschueren added:

    “Europe is lagging behind competitors in the US and in Asia in data.  To bridge this gap, we need an approach which builds trusted European data spaces and strong European competitors. But this means striking a balance between keeping European data secure without closing off to European enterprises the scope for innovating, competing and growing on the international stage”.

    EuroCommerce

    Add A Comment
    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    nps
    • Website

    Related Content

    Investment - Photo by Anna Tarazevich on Pexels

    EU agrees on shorter settlement cycle for securities trading

    Trade front loader beside intermodal containers - Photo by Chanaka on Pexels

    MEPs seal deal with Council to simplify EU carbon leakage instrument

    Job interview recruitment - Photo by Edmond Dantès on Pexels

    How to Improve Your Search for Better Marketing Talent

    Credit card terminal - Photo by Yan Krukau on Pexels

    How to Reduce Payment Processing Fees in Your Business

    Euro - ECB-Photo by Mika Baumeister on Unsplash

    Jittery markets await Fed as Middle East conflict rages on – Euro currency news daily

    Health research - Photo by National Cancer Institute on Unsplash

    EU awards EUR 721m funding for cutting-edge research

    LATEST EU NEWS
    Investment - Photo by Anna Tarazevich on Pexels

    EU agrees on shorter settlement cycle for securities trading

    18 June 2025
    Trade front loader beside intermodal containers - Photo by Chanaka on Pexels

    MEPs seal deal with Council to simplify EU carbon leakage instrument

    18 June 2025
    Euro - ECB-Photo by Mika Baumeister on Unsplash

    Jittery markets await Fed as Middle East conflict rages on – Euro currency news daily

    18 June 2025
    Health research - Photo by National Cancer Institute on Unsplash

    EU awards EUR 721m funding for cutting-edge research

    17 June 2025
    mobile-phone-Smartphone - Image by Dariusz Sankowski from Pixabay

    Brussels proposes cheap calls for Ukrainians in EU from 2026

    17 June 2025

    Subscribe to EUbusiness Week

    Get the latest EU news

    CONTACT INFO

    • EUbusiness Ltd 117 High Street, Chesham Buckinghamshire, HP5 1DE United Kingdom
    • +44(0)20 8058 8232
    • service@eubusiness.com

    INFORMATION

    • About Us
    • Advertising
    • Contact Info

    Services

    • Privacy Policy
    • Terms
    • EU News

    SOCIAL MEDIA

    Facebook
    eubusiness.com © EUbusiness Ltd 2025

    Design and developed by : 

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?