EUROPE BEING LEGISLATED OUT OF GLOBAL ECONOMY?

Europe is being legislated out of the global--economy by 'over-zealous' European Commission bureaucrats writing e-commerce law in ignorance of how the industry operates. Graham Ross, a solicitor involved in IT and the law since 1979, believes that the weight of legislation with which European businesses now have to comply will drive much of European e-commerce business offshore. This in turn will leave offshore companies, who do not have to comply with EC legislation, free to exploit the EU market. Ross, who runs an e-commerce law service will be presenting his views at the World E-Commerce Forum, (www.worldecom.org) taking place in London on 18th, 19th and 20th October.

The warning comes at a time when research is showing that the Asia Pacific region is just four years away from overtaking Europe in exploiting the economic benefits of e-commerce, which is also to be discussed at the Forum. Ross says: 'If you look at the USA, which has enjoyed a hands-off approach to regulation in e-commerce from the outset, and the headlong growth in the Asia Pacific region, under a similar regulatory regime, the only news for Europe in the global economy is bad. Another detrimental effect, he believes, will be the drying up of venture capital for European e-commerce start-ups as. investors become fearful of non-compliance with complex legislation.

Ross believes that the solution is global e-commerce regulation to which all participating countries would subscribe, in order to provide a level playing field for e-commerce businesses. His presentation takes place immediately prior to the discussion on establishing the World E-Commerce Organisation, which was proposed by delegates at the inaugural World E-Commerce Forum in Perth, Western Australia, last year.