Better protection for people buying things online in both developed and developing countries will be among the outcomes of revisions to United Nations guidelines agreed at a major UNCTAD conference in Geneva recently.
More than 350 competition specialists from 70 countries gathered on 6–10 July to review the so-called ‘United Nations Set’ of mutually agreed competition and consumer protection policies.
UNCTAD’s work on competition and consumer protection has long shown that these can play a direct and important role in promoting economic growth and reducing poverty in developing countries. Competition stimulates innovation, productivity and competitiveness, increases a country’s attractiveness as a business location, triggering investment, and delivers benefits for consumers through lower prices, improved services and greater choice. Empowered consumers who know their rights and enforce them are subject to fewer abuses. This directly improves their welfare.