Kiwi businesses benefit from EU recognition of NZ privacy lawTrade Justice
Justice Minister, Judith Collins, and Trade Minister, Tim Groser, have welcomed the European Commission’s formal declaration that New Zealand privacy law provides an adequate standard of data protection for the purposes of European Union (EU) law.
European Union countries can now send personal data to New Zealand for processing without the need for extra controls.
Ms Collins says New Zealand is one of only five countries outside Europe to receive this level of recognition and trust and this is a vote of confidence in New Zealand’s privacy laws.
“Protection of personal consumer data is a significant issue around the world, and this decision reinforces that New Zealand’s regulatory and legal system is amongst the best in the world.
“This will have positive spinoffs for Kiwi businesses too. I expect this will open up new opportunities for New Zealand in data processing, cloud computing and financial or call centre activity,” Ms Collins said.
Trade Minister Tim Groser says the decision gives New Zealand a significant competitive advantage over other countries trading with the EU.
“This decision reinforces that New Zealand is a safe place to do business in, and with.
“It will allow New Zealand businesses who deal with personal data to confidently assure their current and future European customers that information will remain adequately protected as it flows from any of the 27 EU member states to New Zealand for processing.
“This assurance is backed not only by our own laws but also has met the high standards of the European Commission.
“I am confident that this decision will offer real opportunities for New Zealand, and for New Zealand businesses,” Mr Groser said.