In Osaka, at the G7 Trade Ministerial, the EU and Japan have concluded an accord aiming to facilitate online business operations, reduce expenses, and amplify efficiency. The agreement focuses on the unrestricted flow of data across borders, which, once ratified, will become an integral part of the EU-Japan Economic Partnership Agreement (EPA).

European Commission (EC) claims that these provisions would serve as the foundation for a unified approach to digital trade, rejecting 'digital protectionism' and arbitrary limitations. EC also stated that the agreement eliminates costly data localization requirements for European and Japanese companies. This means that this would prevent the mandatory local storage of data, avoiding added costs, complexities, and potential security risks associated with businesses having to duplicate data in various locations.

This deal materialized during the EU-Japan High-Level Economic Dialogue, in which Valdis Dombrovskis, the Executive Vice-President of the European Commission, Nishimura Yasutoshi, the Japanese Minister of Economy, Trade, and Industry, and Y