Petar T. Ivanov: Transatlantic Digital Partnership Brings High Added Value for both the U.S. and the EU

On December 6th, 2021, Petar T. Ivanov, CEO of AmCham Bulgaria took part at the Internet Governance Forum 2021 in Katowice, Poland. He was part of the panel “Stepping stones for digital growth: how to use the data economy and the frame of transatlantic relations for secure global digital advance?”

“Today, 75% of the Internet content is generated between the U.S. and the EU. The transatlantic cables carry 50% more data compared to those in the transpacific area, and 40% more compared to the traffic between North and South America. The EU realizes USD 113 billion from  services in the Digital Economy, and the U.S. – USD 245 billion. This economy has been operating by set rules for more than 15 years. This is a truly global economy that we are trying to regulate locally, to change the rules of the game on the part of Europe thinking that everyone will accept them.

Thus, a dialog between the U.S. and the EU is needed – therefore the EU-U.S. Trade and Technological Council was established a few months ago. It is wrong to be considered that regulations are introduced to control the big multinationals only. They will cope with that. However, we are concerned that the small and mid-size businesses in Europe will be harmed the most. Those businesses are the backbone of Industry 4.0. in the Old Continent. As a result of those regulations, all software algorithms have to be rewritten. This cannot be done by many SMEs. Thus, the regulations should be coordinated globally, with the needed time for discussion among partners to be effective. And all should know what their ultimate goal is,” Petar T. Ivanov pointed out.

“What we have achieved so far is to have a button for consent that 95% of the users reply with “Yes”. However, we lack having a button for consent when a hacker steals our credit cards numbers, there is a lack of legislation that prosecutes those that want malware ransom for the information they have encrypted illegally.” he elaborated with some practical examples.

The other participants in the session were Janusz Cieszyński, Secretary of State, Government Plenipotentiary for Cybersecurity; Marta Poślad, Head of CEE & Transatlantic Public Policy, Google; Michał Kanownik, President, Digital Poland Association, and Prof. André Xuereb, Ambassador for Digital Affairs, Ministry of Foreign and European Affairs, Republic of Malta.

About IGF

IGF (Internet Governance Forum) is an international meeting held at the initiative of the United Nations, enabling a global discussion on the development of the Internet.

The 2021 Internet Governance Forum brings together policy-makers, entrepreneurs, representatives of academia and non-governmental organizations. Thousands of people from all over the world will spend several days debating the opportunities and challenges posed by the Internet, as well as ways to fully exploit its potential.

Poland hosts the IGF 2021

For the first time in history, Poland hosts the global edition of the Internet Governance Forum organized by the UN. The event takes place at the Katowice International Congress Centre.

Website: IGF2021