This document discusses the importance of cross-border data flows for businesses and the economic impacts of restrictions on such data flows. It notes that information and communication technologies (ICT) have driven globalization and productivity growth. However, some countries impose restrictions on transferring customer or employee personal data across borders or require local data storage. This can negatively impact company revenues and increase costs of service through reduced efficiency, scalability, and ability to innovate quickly. The document recommends lessening such restrictions to facilitate international digital trade and establishing efficient cross-border data transfer regimes.