EU urged to drop barriers to trade with poorer countries

18/11/2012 12:00 - 422 Views

A WESTMINSTER think tank will today call on Brussels to help development in poorer countries by scrapping non-tariff barriers to trade.

The Institute for Economic Affairs, which argues in favour of free trade, will also urge governments in developing countries to boost growth by slashing measures that stifle international trade.

“There is an urgent requirement for the EU to remove protectionist import barriers erected against poor countries,” the new report says.

Extortionate trade tariffs also thwart development in less wealthy parts of the world.

“India has a tariff barrier of 99 per cent on roasted coffee and Mexico 71 per cent,” it says.

Barriers trap firms in poor countries into less profitable areas of business, the IEA argues.

Tuesday 13th November 2012, 12:43am

By Julian Harris

Source: cityam.com