BusinessEurope reacts to today’s EU Parliament plenary vote on the EU Data Act

9 November 2023 - Commenting on today’s EU Parliament Plenary vote on the EU Data Act, BusinessEurope Director General Markus J. Beyrer said: "Making data flows easier in Europe is a necessary step, but it will be key to assess the Data Act’s impact on the EU’s global competitiveness".

"The number one concern of the European business community is that the Data Act does not have a chilling effect on data innovation investments in the EU, particularly due to its potential impact on contractual freedom. European companies are facing intense global data competition - they need a sensible and competitive legal framework to succeed.

The Data Act will be a transformative regulation, but it will also be maturing with time, similar to GDPR where businesses still explore possibilities and limitations. Going forward, it will be key to assess the impact of the Data Act on the EU’s global competitiveness vis-à-vis other world regions, and how it has affected contractual freedom for economic actors across the Union."