The APEC Privacy Framework, which seeks to ensure the rapid cross-border flow of information and data while protecting consumers, businesses and governments from fraud and criminal activity, has been endorsed by APEC Ministers.
The Framework clarifies how information can be handled and will also improve information sharing among regulators and government agencies to enable the safe transfer of information between economies.
Ms. Josette S. Shiner, United States' Under Secretary of State, said the framework creates a set of common privacy principles that will make a significant contribution to APEC?s ongoing efforts to increase cross border trade and growth in e-commerce.
"It is crucial that information being transmitted electronically is able to move quickly across borders while at the same time offering peace of mind that the information is secure," the Under Secretary said.
"The range and number of electronic transactions taking place around the region grows every day. This includes activities such as the transferring of funds, purchases made over the Internet, credit card transactions and sensitive corporate information that is sent from one computer to another.
"Our economy is dependent on having functional information networks and the APEC Privacy Framework boosts the security and integrity of this vital infrastructure."
The publication of the APEC Privacy Framework is a significant milestone in APEC?s continuing efforts to promote trade and investment in the Asia Pacific region. The Framework advocates consistent privacy principles while avoiding the creation of unnecessary barriers to the cross-border flow of information.
The Framework also provides technical assistance to APEC Member Economies that have not addressed privacy from a regulatory or policy perspective and bridges the differences with those economies that have privacy rules in place.
The APEC Privacy Framework and associated fact Sheet are available in printed Form or can be downloaded from the APEC Website.