Cost of living crisis hits poorest the hardest, warns UNCTAD

More international cooperation is therefore needed to improve product safety for all.
Keeping consumers safe is generally a top priority for governments around the world. UNCTAD research shows , with a developed network of laws and standards promoting product safety.
“Product safety is one of the key pillars or drivers of consumer trust,” said Helena Leurent, director general of Consumers International, “the lack of consumer understanding is a substantive challenge,” she added.

‘Huge potential’

As consumers try to reduce their spending, they will pay a high price if they buy cheaper, but unsafe products. The United States reports 43,000 deaths and 40 million injuries per year associated with consumer products, with yearly costs of over ,000 per capita.
High-level officials participating in the UNCTAD meeting agreed that preventing cross-border distribution of known unsafe consumer products is a priority for countries, as it can improve consumer confidence and boost sustainable economic development.
While more developed countries have put in place product safety frameworks, including laws, enforcement institutions, recall mechanisms and communication campaigns, developing countries with weaker systems, UNCTAD said, are less able to regulate the scourge of unsafe products.
UNCTAD says consumers’ vulnerability is heightened since they may be unaware that health or safety requirements vary from country to country and may assume that all products on sale online are safe.

Regional is safer

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