European Commission’s Digital Single Market Strategy should become a key driver to boost the European economy

Brussels, 6 May 2015 – The American Chamber of Commerce to the European Union (AmCham EU) today said that the Digital Single Market (DSM) Strategy released by the European Commission represents one of the best opportunities to date for Europe to reinvigorate its economy and remain competitive in an increasingly competitive global landscape.

Digital services, which include cloud computing, big data and the internet of things, will continue to be a key driver of new business models and growth across all sectors – from transportation to healthcare, financial services, retail and many more – which is why a coherent EU Digital Single Market Strategy is critical. A DSM will also offer great opportunities for eCommerce and consumers alike by making it much easier to buy and sell goods across borders.

AmCham EU believes that data flows across national and international borders are critical for future innovation. We are encouraged by the Commission’s proposal to launch a ‘Free Flow of Data’ initiative to remove barriers within the EU. Going forward it is imperative that any legislation and policy initiatives introduced to support the DSM be evidence-based and guided by ‘smart regulation’ principles, which take into account new market realities.

Commenting on the Strategy, Susan Danger, AmCham EU’s Managing Director, said, ‘The Digital Single Market holds great potential as a growth driver in Europe which is why we believe removing existing barriers and preventing new ones is absolutely fundamental. When future policies are introduced to implement the Strategy, they should encourage a culture of innovation which is badly needed to stimulate Europe’s economy and help it thrive’.

AmCham EU represents many industry sectors that are being transformed by digital innovations, and that mirror the complex evolution in the marketplace. This requires constructive and difficult but necessary discussions on the upcoming proposals. AmCham EU looks forward to a productive dialogue with the European Commission on the Strategy.

With aggregate US investment in Europe totalling €2 trillion in 2014 and supporting 4.3 million jobs, AmCham EU’s member companies are committed to the completion of the Single Market and believe that making digital a top priority will generate more investment and innovation for all sectors.

Read AmCham EU’s position paper, ‘Priorities for a Digital Single Market’ here.