Ai Group added its voice to a global business initiative to urge reform of the WTO and the rebuilding of trust in globalisation at the Annual meeting of the Global Business Coalition, held in New Delhi this week.

Ai Group Chief Executive, Innes Willox, representing Australia at the meeting, led discussions on Digitalisation, in an effort to garner support for global regulatory coherence in this essential fuel of the modern economy.

“The impact of protectionist measures on goods such as tariffs and quotas is immediate and obvious. However, the emergence of protectionist interventions into data laws don’t only add costs to international business, but risk curtailing innovation and limiting the benefits of digitalisation.

“As a group of national industry associations, representing the interests of over 20 million small, medium and large companies, we also discussed the responsibilities of companies in data governance and the need to have global norms on best practice. A key element in repairing trust in globalisation and the global business community is to address the loss of confidence that data breaches has caused across the world,” Mr Willox said.

Source: AiG