• The article explains how the European Union is trying to create a single market for digital products and services.
• It is important for Europe to have an accessible, secure and competitive digital market in order to remain competitive in a globalised world.
• The Digital Single Market strategy focuses on modernising copyright rules, reducing geo-blocking, improving access to online goods and services, simplifying VAT rules and improving trust in the digital economy.
Introduction
The European Union (EU) has set out an ambitious Digital Single Market (DSM) strategy that aims to make it easier for citizens and businesses across Europe to benefit from the digital revolution.
Why is a Digital Single Market needed?
As our lives become increasingly digitised, it is important for Europe to have an accessible, secure and competitive digital market if we are to remain competitive in a globalised world. This means making sure that citizens can access all of the goods and services they need, no matter where they are located in Europe. It also means that businesses can operate freely across borders without facing unnecessary obstacles or restrictions due to different national regulations or laws.
What does the DSM Strategy involve?
The DSM strategy consists of 16 initiatives which focus on modernising copyright rules, reducing geo-blocking, improving access to online goods and services, simplifying VAT rules and improving trust in the digital economy. These initiatives aim to break down barriers between countries so that companies can more easily expand their operations into new markets within the EU without having to comply with multiple laws or regulations. They also seek to provide better protection for consumers when purchasing online products or services by ensuring there are clear rights and obligations on both sides of any transaction.
How will it be implemented?
The implementation of the DSM strategy will involve reforming existing legislation as well as creating new laws at both an EU level as well as at national levels. A number of consultations have already been launched by the European Commission which seek feedback from stakeholders such as industry bodies, consumer associations, academics etc., who will help shape this new legal framework.
Conclusion
The DSM strategy provides an opportunity for Europe’s businesses and citizens alike to reap the benefits of a truly integrated digital market which offers greater choice, lower prices and improved security when accessing online goods or services across borders within the EU region.