We live in a global, digitally networked world. Cloud, mobile and in-memory technologies are its engines. Our new world has no boundaries; there is a huge potential for growth, employment and new business models. But it also comes with challenges for policy and industry.

In response to leaks about the U.S. National Security Agency’s widespread surveillance, there have been lots of understandable concerns globally. Unfortunately, some parties have suggested building fortresses around national data.

I believe that the new technologies and the free flow of data are essential to spurring innovation and expanding international trade. This is only possible if consumers and citizens trust the digital economy and use it extensively. We in industry must work with policymakers in all markets to create clear and transparent rules that both protect the legitimate rights of citizens, consumers and companies and promote cross-border data flows.

We urgently need an internal harmonization of security and privacy regulations in Europe, but these cannot lead to building data barriers around the continent.

On the contrary, Europe should work toward a global solution with other partners, starting with the United States. As both continue their transformation into digital economies, policymakers and industry representatives from both continents should come together and take an ambitious approach to creating joint standards and procedures that enable cross-border data flows under the Transatlantic Trade and Investment Partnership.