EuroCommerce warns on rising tide of protectionism

EuroCommerce warns on rising tide of protectionism
Shutterstock

The IMF has issued its latest six-monthly World Economic Outlook, which again marked a continued shift towards protectionism in advanced economies. “This is short-sighted”, says EuroCommerce.

Long-term damage

As this and other recent reports  – and the direct experience of retailers, wholesalers and traders – show, there is a continued move away from open trading policies. In EuroCommerce’s view, the accelerating trend of countries looking to short-term measures to protect a particular sector ignores the long-term damage, not only to the wider economy, but also the long-term cost to themselves in lost competitiveness and economic health. A free global market and an open EU Single Market aim to allow consumers and businesses access to the goods and services they want to buy. Protectionism is essentially about the state making decisions which close off choices for ordinary people and companies.
 

New barriers

Commenting on the publication of the IMF report, EuroCommerce Director-General, Christian Verschueren, said:


“Too many countries in and outside the EU are trying to gain a marginal advantage by creating new barriers to businesses seeking to offer choice and good service to consumers. This is short-sighted - and ultimately self-defeating, hindering countries’ own growth and the creation of new jobs. In the EU, it is also undermining the Single Market on which all our economies depend. An unfinished and fragmented Single Market costs consumers and businesses billions of euros every year. This IMF report provides further valuable evidence for why the EU needs to equip itself to compete globally by eliminating discriminatory and unjustified restrictions on providing consumers with the best goods and services.”

 

Questions or comments? Please feel free to contact the editors


Gerelateerde items

EU guidelines on food donation helpful to reducing food waste

20/10/2017

(Content provided by EuroCommerce) The European Commission adopted yesterday on the World Food Day, EU guidelines on food donation. Retailers and wholesalers welcome these guidelines as supporting efforts to recover and redistribute food to those in need.

Action opens 1,000th store

20/10/2017

Tomorrow is a special day for Dutch discounter Action, as it will open its 1,000th store in Gorinchem (in the Netherlands). The number of Action stores has almost doubled in the last two years.

Richemont forecast huge profit increase for first six months

17/10/2017

Luxury firm Richemont, which owns watch brand Cartier for instance, has forecast an 80 % profit increase for the first half of its fiscal year. Turnover will also grow more than 10 %.

Safe.Shop is new global eCommerce trust mark

16/10/2017

Safe.Shop is the world’s first global eCommerce trust mark. Currently, only twelve countries signed up, but that number should increase in the future.

Retailers the wrong target for action on the supply chain

13/10/2017

(content provided by EuroCommerce) EuroCommerce Director-General Christian Verschueren has expressed his concern towards Agriculture Commissioner Phil Hogan that some of the statements in his speech on 5 October in Dublin could polarise the debate.

Zeeman doubles profit

12/10/2017

Store chain Zeeman’s profit more than doubled in the past fiscal year compared to 2015. Turnover also grew several percent, mainly thanks to strong performances outside of the Netherlands.

Back to top