Last week, members of the American Chamber of Commerce Estonia (AmCham) and EU Commission Representation gathered in Tallinn, Estonia to discuss the role and purpose of the Digital Single Market in Europe. And as a member of AmCham, representatives from Vaimo were in attendance. The event welcomed distinguished speakers from government, politics, policy and business (including Vaimo’s COO, Brendan Peo).
The EU’s Digital Single Market Strategy aims to ensure that Europe’s economy, industry and society, take advantage of, and prosper in the new digital era. The EU notes that tearing down the regulatory frameworks of 28 separate countries to a single digital market could contribute to the economy and create jobs in the process.
This stance was echoed at the AmCham event as speakers praised the role of a digital single market in enabling digital commerce, both for consumers and businesses. After all, a harmonious approach to policy and uniformity in rules makes cross-border transactions and interactions a lot easier. Whether you’re a company looking to sell in new territories or a customer attempting to purchase items from overseas, different rules and laws can hinder the process. It was noted that a working and successful Digital Single Market has the power to erase such barriers and facilitate business across borders.
To cap off the event, a business panel covered a wide-ranging set of issue related to the role of the Digital Single Market. Brendan Peo, Vaimo (pictured below) touched on the work that Vaimo has been doing with its clients to ensure GDPR (General Data Protection Regulation) compliance in this regard. He also commented on the role of the modern-day consumer, who expects frictionless purchasing experiences, be they cross-border or cross-channel. Vaimo has been helping its clients over the last decade in delivering omnichannel experiences for customers. And just as consumers previously demanded omnichannel purchasing experiences, Brendan noted that they now also want to be able to shop internationally without problems; and it this demand from consumers that will help to drive the role of the Digital Single Market.
Members of the Panel Discussion
The GDPR has undoubtedly been one of the landmark achievements of the Digital Single Market initiative. And it is something that Vaimo has focusing on heavily to ensure compliance for Vaimo itself and our clients. You can learn more about Vaimo’s journey to GDPR compliance here.
Another key part of EU regulation discussed at the event, to be implemented as of December 3rd, concerns geo-blocking. According to the EU, geographically-based restrictions undermine online selling and purchasing by limiting consumers and businesses to benefit fully from the advantages of digital commerce. In this regard, Regulation (EU) 2018/302 prohibits the automatic redirecting of consumers to national websites when shopping online and outlaws other discrimination against customers on the grounds of nationality, place of residence or place of establishment. The regulation also makes it clear that this applies to both B2C and B2B companies.
Businesses who fail to comply with the new regulation (as was the case with GDPR) will be subject to investigation and/or fines. In addition, businesses and consumers will be able to enforce their rights stemming from the Geo-blocking Regulation on the basis of any existing EU and national rules regarding such enforcement. To make sure that you are completely up-to-date with Regulation 2018/302, you can find useful information on the European Commission’s website.
Cover image: www.amcham.ee
We’d like to thank AmCham for putting on this informative and thought-provoking event. You can learn more about AmCham here and can read their write up of the event (including a full list of speakers) here. And remember, to learn more about how Vaimo can accelerate your online sales and grow your digital presence, then get in touch with our team today!