Part of: Prelims and GS II – International Relations
Context G7 nations recently agreed on a joint set of principles to govern cross-border data use and digital trade.
The deal sets out a middle ground between highly regulated data protection regimes used in European countries and the more open approach of the United States.
Key provisions of the G7 Digital Trade Principles
Open Digital Markets: Digital and telecommunications markets should be competitive, transparent, fair, and accessible.
Cross Border Data Flows: To harness the opportunities of the digital economy, data should be able to flow freely across borders with trust
Safeguards for Workers, Consumers and Businesses: Labour protections must be in place for workers who are directly engaged in or support digital trade.
Digital Trading Systems: To cut red tape and enable more businesses to trade, governments and industries should drive forward the digitisation of trade-related documents.
Fair and Inclusive Global Governance: Common rules for digital trade should be agreed upon and upheld at the World Trade Organization (WTO).
Data Encryption: Businesses should not be required or coerced to transfer technology or provide access to source code or encryption keys as a condition of market access.
About G7
G7 stands for “Group of Seven” industrialized nations.
It used to be known as the G8 (Group of Eight) until 2014 when Russia was excluded because of its annexation of Crimea from Ukraine.
Countries: United States, the United Kingdom, Germany, Canada, Japan, France and Italy.
The G7 does not have a formal constitution or a fixed headquarters.
It is an informal bloc and The decisions taken by leaders during annual summits are non-binding.
Generally every member country hosts the summit once every 7 years
