Brazil and the European Union signed, this Tuesday (27), an agreement on mutual recognition of standards for the processing and protection of personal and business data. The decision indicates that the European Commission recognizes that Brazil offers an adequate level of security in data protection.
Furthermore, the act creates a common area of trust that covers more than 670 million people, considering the population of both territories. The agreement reduces bureaucracy and regulatory costs for companies operating between Brazil and the European Union, by eliminating the need for additional mechanisms, such as specific contractual clauses, technical audits and complex compliance procedures.
The official ceremony took place at Palácio do Planalto and was attended by Vice President Geraldo Alckmin and the European Union Commissioner for Democracy, Justice, Rule of Law and Consumer Protection, Michael McGrath.
According to Alckmin, the agreement will bring greater legal security, make people’s lives easier and increase competitiveness. He also highlighted that this is the first bilateral agreement on data protection signed by Brazil.
