Digital Markets Act
EU’s new rules for Big Tech will come into force in Spring 2023, says Vestager
Techcrunch: The European Union’s flagship reform for tackling Big Tech platform power, the Digital Markets Act (DMA), will come into force in early 2023, Commission EVP Margrethe Vestager has said — rowing back from an earlier suggested timeframe of this fall.
But she also implied that enforcements against unruly Internet “gatekeepers” could flow soon after the regulation is in place.
“The DMA will enter into force next spring and we are getting ready for enforcement as soon as the first notifications come in,” Vestager said today in a speech to the International Competition Network conference in Berlin.
“This next chapter is exciting. It means a lot of concrete preparations,” the EU’s competition chief went on. “It’s about setting up new structures within the Commission, pooling resources from DG Comp [Directorate-General for Competition] and Cnect [Directorate-General for Communications] based on relevant experience. It’s about hiring staff. It’s about preparing the IT systems. It’s about drafting further legal texts on procedures or notification forms. Our teams are currently busy with all these preparations and we’re aiming to come forward with the new structures very soon.”
EU lawmakers reached political agreement on the ex ante regulation back in March, paving the way for full adoption later this year of a draft law which was only proposed by the Commission at the end of 2020 — underscoring how much consensus there is across the bloc’s institutions of the need to rein in Big Tech.
However there has been some concern that the Commission will not be immediately ready for the new, centralized enforcement role it’s taking on as the DMA’s ‘sheriff’ of Big Tech — a role which will consist of assessing whether platform giants are sticking to the ex ante regulation’s long list of up-front ‘dos and don’ts’, which cover detailed (and sometimes technically complex) compliance obligations related to issues such as self-preferencing, FRAND terms, interoperability and portability, to name a few.
India - EU
In new roadmap for India-EU trade deal, 2024 is the deadline to conclude talks
Hindustantimes: The two sides are hoping to conclude the negotiations before the start of the next electoral cycle for India and the EU in 2024, Astuto said. He set aside speculation that the two sides could have an interim trade deal before finalising a full-fledged agreement, saying: “Both sides are aiming at a broad, comprehensive and ambitious FTA.”
India is slated to have its next general election in 2024, while the first elections to the European Parliament following Britain’s exit from the EU will be held the same year. India is also negotiating an FTA with the UK and both sides have set a target of concluding the talks by October.
The proposed trade deal also figured in European Commission President Ursula von der Leyen’s recent engagements with the Indian leadership in New Delhi.
EIB vice president Christian Kettel Thomsen said the EU’s investment bank plans to double its annual investments in India from the current level of about €500 million within the next two years. He said this target is “doable” and dovetails with the EU’s ambitions related to the trade deal with India.
With the EU’s current focus on green energy to reduce Europe’s dependence on Russian oil and gas, EIB will also focus on green and sustainable projects in India, officials of the bank said. EIB’s annual investments total €60 billion and half of this amount is targeted toward climate mitigation.
Many of EIB’s initiatives are aligned with EU’s new Global Gateway initiative launched last year to boost smart, clean and secure links in the digital, energy and transport sectors. Global Gateway plans to mobilise €300 billion in investments between 2021 and 2027.
UK
UK – Japan Joint Announcement on Deepening Digital Collaboration
Gov.uk: The UK and Japan are natural partners that share the same fundamental values on digital and data. We both believe in the power of the free market and the importance of Data Free Flow with Trust. We are inherently optimistic about the opportunities that digital technologies offer to our citizens, businesses, and societies, whilst being clear on the risks and the need to protect people and industries from harm.
We will convene a UK-Japan Digital Group this year, with representatives from all relevant departments and Ministries, to deepen digital cooperation between the UK and Japan. This will cover all facets of our joint digital priorities, including digital infrastructure, data, digital regulation and standards as well as digital transformation. This will strengthen our tech sectors and revitalise our local communities through digital transformation.
The Ministry for Internal Affairs and Communication (MIC), Digital Agency and Ministry of Economy, Trade and Industry (METI) will be the main contributors from the Government of Japan. ‘The Department for Digital, Culture, Media and Sport (DCMS) and the Government Digital Service will be the main contributors from the UK Government. The Digital Group meeting will be held annually, led by senior officials and coordinated by DCMS and MIC. Development of this cooperation will also include high-level and working group meetings as necessary.
UK kickstarts work on new trade deal with Switzerland
Gov.uk: In 2020, the United Kingdom was the second-largest exporter of services to the world, with exports worth £266.8 billion. Switzerland was 12th largest, with £89.6 billion.
This deal will help take our relationship to the next level in industries of the future such as digital trade, innovative services, and green growth - delivering higher-paying jobs across the country. It will support trade in vital industries of the UK economy, including finance, legal services, consultancy, the tech sector, and the creative industries, helping contribute to setting new rules and standards for digital trade in the 21st century.
CBI President Lord Bilimoria said:
That DIT is seeking inputs into enhancing the UK-Swiss FTA is to be welcomed, and the CBI looks forward to responding. The CBI-driven Joint UK-Swiss Bilateral Trade & Investment Council launched earlier this year identified significant opportunities to deepen the existing trading relationship, primarily by enhancing digital and services trade.
Alongside the ongoing dialogue on Financial Services, this consultation presents an opportunity to increase cooperation on issues ranging from customs, reducing complexity in short-term mobility and building cooperation on innovation through our world-class research institutions.
Joint statement on UK-U.S. dialogue on future of Atlantic trade in Aberdeen
Gov.uk: Harnessing the benefits of digital trade - Advance outcomes in digital trade that benefit businesses, including SMEs, workers and consumers by supporting the digitalisation of trading systems and transactions. The UK and U.S. will also seek to build on the G7 Digital Trade Principles.