The United States and the European Union enjoy one of the healthiest trade relationships on the planet, accounting for one-third of world trade in goods and services and nearly half of all global economic output. And yet, even these impressive figures may understate the size of the trade relationship – and the important way that digital technology is changing it.
At this high-level roundtable, a leading think tank from each side of the Atlantic – Progressive Policy Institute from Washington, DC and The Lisbon Council from Brussels – looks at the hidden and often-overlooked value of transatlantic trade in data. In a joint paper, they will argue that much crossborder data flow is missed in government data, which is better at tracking monetary transactions or the movement of physical goods. Yet, in an era where economic value is driven by knowledge and services, the power and value of this hidden transatlantic trade is becoming increasingly important – posing new and yet-to-be-fully understood challenges for policymakers and offering the opportunity to re-launch the transatlantic relationship along its historic task: as a pillar of health, prosperity and security on both sides of the Atlantic.
Just how big is transatlantic trade in data? What is its economic function and role? And how is it destined to change as technology deepens and economies grow more knowledge-based? What are the implications for policy and policymakers? And how can this important trend be deepened, strengthened and correctly regulated?
Join leading thinkers, policymakers, regulators, business leaders and others at this high-level roundtable, which will also serve as the launch of The Hidden Value of Digital Trade, a new policy brief by Paul Hofheinz and Michael Mandel.
Thursday, 02 July 2015
Résidence Palace, International Press Centre 155, rue de la Loi
10h00-10h30 Welcoming Coffee and Registration ￼￼
￼10h30-11h00 Policy Brief Launch and Presentation
The Hidden Value of Digital Trade
Co-authors Paul Hofheinz and Michael Mandel analyze the growing size and increasingly important role of data in transatlantic trade.
Presentation of New Research Study:
—Paul Hofheinz,co-author,The Hidden Value of Digital Trade; president and co-founder, The Lisbon Council
—Michael Mandel,co-author,The Hidden Value of Digital Trade; chief economic strategist, Progressive Policy Institute
—Andrew W. Wyckoff, director for science, technology and innovation, Organisation for Economic Co-operation and Development (OECD)
11h00-12h00 High-Level Panel
Growing Transatlantic Trade in Data: The Implications for Policy and Policymakers
VIP guests will discuss the implications of growing transatlantic trade in data for the transatlantic digital trade relationship and the ongoing Transatlantic Trade and Investment Partnership (TTIP) negotiations.
—Elena Bryan, senior trade representative, Office of the U.S. Trade Representative, U.S. Mission to the European Union
—Nele Eichhorn, member of the cabinet of Cecilia Malmström, European Commissioner for Trade; cabinet-level responsibility for digital economy and Digital Single Market
—DanielDalton, member (ECR-UnitedKingdom),internal market and consumer protection committee, European Parliament
—Jeppe Kofod, member (S&D-Denmark); vice-chair, delegation for the relations with the U.S., European Parliament
—Alessia Maria Mosca, member (S&D-Italy),international trade committee, European Parliament