EuroCommerce, the representative group for retail and wholesale in Europe, has warned that a continued shift towards protectionism could lead to long-term damage.
“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," said Christian Verschueren, director-general of EuroCommerce.
"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."
Economic Outlook
The IMF has issued its latest six-month World Economic Outlook, which highlights the continued move away from open trading policies.
EuroCommerce says that the 'accelerating trend' mentioned in the report could prevent consumers and businesses from accessing the goods and services they want to buy, as well as creating long-term economic damage.
"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,” added Verschueren.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
