The free flow of personal data is becoming increasingly important in today’s global economy. Countries worldwide realise the benefits of sharing data across borders. These benefits include increased economic growth, improved cross-border business operations, enhanced innovation, improved public services, and strengthened regional cooperation. BRICS countries, in particular, stand to benefit significantly from the free flow of personal data among them.
This post introduces BRICS, sets the benefits of the free flow of personal data among the countries, and highlights the need for robust data protection measures. Ultimately, you’ll know how the free flow of personal data can benefit BRICS.
Who are the BRICS countries?
The BRICS countries are a group of five major emerging economies: Brazil, Russia, India, China, and South Africa.
The term “BRIC” was coined in 2001 by Jim O’Neill, an economist at Goldman Sachs, to describe these countries that were expected to become economic powerhouses in the 21st century. These nations are known for their large populations, vast natural resources, and rapidly growing economies.
Together, the BRICS countries account for almost half of the world’s population and a significant share of global GDP. They have since established themselves as an influential bloc on the world stage, advocating for greater global economic cooperation and reform of international institutions such as the United Nations and the International Monetary Fund.
The benefits of the free flow of personal data among BRICS countries
Economic growth and job creation
The free flow of personal data can help promote e-commerce and digital trade between BRICS countries, leading to increased economic growth and job creation.
For example, facilitating e-commerce and digital trade can help businesses reduce costs, increase efficiency, and access new markets.
Further, companies in BRICS countries can streamline their operations by seamlessly transferring data across borders. The transfer can help businesses reduce costs and increase efficiency.
Enhanced innovation
By facilitating the development and deployment of new technologies and services, BRICS countries can strengthen their economies and improve their competitiveness on the global stage.
For example, companies can leverage personal data to develop and deploy new technologies and services, such as artificial intelligence and blockchain. New technologies and services can lead to new markets and job opportunities, particularly in the technology sector, which in turn, can drive economic growth and development.
Improved public services
Sharing personal data among BRICS countries can improve the quality and efficiency of public services, such as healthcare, transportation, and education.
To illustrate, by sharing personal data, governments can better understand the needs of their citizens and provide more targeted and effective public services. Ultimately, this can improve the quality of life for the countries’ citizens.
Strengthened regional cooperation
One of the most significant benefits of the free flow of personal data among BRICS countries is the potential to strengthen regional cooperation.
For instance, these countries can collaborate on projects and initiatives that benefit their economies and people by sharing data and expertise. This can include joint research and development projects, infrastructure development, and cross-border trade and investment.
By fostering closer political and economic ties and promoting greater social and cultural exchange, the countries can build stronger relationships with one another and position themselves as leading players in the global economy.
The need for robust data protection measures
However, ensuring personal data protection is crucial in any initiative promoting the free flow of data. Therefore, BRICS countries must ensure that appropriate safeguards are in place to protect the privacy and security of personal data while promoting the benefits of data sharing. These safeguards include encryption, secure data storage, and strict access controls.
By striking a balance between the benefits of data sharing and the need for privacy and security, BRICS countries can fully realise the potential benefits of the free flow of personal data.
Actions you can take next
- Lawfully transfer personal data among BRICS countries asking us to:
- provide you with an opinion answering a particular question,
- draft binding corporate rules for your organisation,
- draft a binding agreement with a third party (like a processor or another controller) to provide an adequate level of protection,
- draft a bespoke data processing agreement for your organisation,
- draft template clauses for you to include in your contracts with third parties, or
- draft consent clauses for you.
- Comply with data protection laws in BRICS countries by joining our data protection programme.
