UAE Ministry of Economy Raises Awareness of the Private General Data Protection RegulationSource: www.export-egypt.com 5/29/2017, Location: Middle East |
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The Ministry of Economy has emphasised its commitment towards raising awareness of the UAE’s private sector regarding the latest policies, legislations and administrative procedures adopted by the international community and trading partners.
Through this, the Ministry aims to develop a new and integrated outlook on international markets inclusive of their current challenges and opportunities. This supports the declaration set by the European Union regarding competent authorities, in addition to the European Parliament, the Council of the European Union, and the European Commission, to protect public data and enforce the General Data Protection Regulation, GDPR, by May 2018. Juma Mohammed Al Kait, Assistant Under-Secretary for Foreign Trade at the Ministry of Economy, noted that the regulation issued by the EU aims to protect the data of every individual in the EU. This does not only impact companies operating in European countries, but includes all institutions and companies that conduct business, trade and investment activities within EU countries, including the UAE business sector linked with European trade relations. Due to this, the Ministry is working on deepening its knowledge about the new legislation, its provisions and requirements, and aims to reconcile its operational procedures with European authorities, in adherence with the framework of the GDPR, before May 2018. Al Kait emphasised the EU is one of the UAE’s most important trade partners. Trade between the two sides generated US$65.8 billion in 2016 alone. The UAE has become one of the top 10 destinations for EU exports, and is home to over 41,000 European companies, in addition to over 121,000 EU citizens. The legislation outlines a non-compliance penalty of up to 4 percent of a company’s annual turnover, and 20 million Euros as the maximum fine for more serious offenses, including failure to attain client consent when processing data, or the violation of privacy. Penalties are also applied to information controllers and processors, including cloud software companies. The new legislation also outlines terms of approval for the use of data, to prevent companies from using legally illegitimate terms, and gives both parties the ability to easily withdraw if desired. |
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