Washington, D.C.
TechNet, the bipartisan
policy and political network of innovation economy CEOs and senior executives,
today released the following statement after the European Commission and the
U.S. Department of Commerce reached an agreement on the EU-U.S. Privacy Shield,
a new safe harbor mechanism for transferring data across the Atlantic.

“Today’s agreement removes
a serious roadblock that could very well have prevented the free flow of data
between the U.S. and EU,”
said Linda Moore, President and CEO of TechNet. “The
ability of data to move across borders is critical to economic growth in Europe
and the United States, and this agreement reflects the shared interest in promoting
innovation and data protection.”

“This agreement is a
significant milestone, and I would like to thank Commerce Secretary Pritzker
and her team for their leadership on this issue. TechNet and our member companies look forward
to working with policymakers as they craft procedures and timetables for the
implementation of the EU-U.S. Privacy Shield.”

About TechNet
TechNet is the national,
bipartisan network of CEOs and senior executives that promotes the growth of
the technology industry by building long-term relationships between technology
leaders and policymakers and by advocating a targeted policy agenda at the
federal and 50-state level. TechNet has
offices in Washington, D.C., Silicon Valley, Sacramento, Seattle, Boston, and