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NEWS STORY
BRC: G20 SHOULD MAKE BOLD FREE TRADE COMMITMENT
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| April 1, 2009 |
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Ahead of the G20 summit in London tomorrow, the British Retail Consortium (BRC) is today (Wednesday) calling on the world's most powerful leaders to make a bold commitment to free trade as the best solution for the current worldwide recession.
The BRC is also calling on the G20 leaders to avoid the temptation of populist protectionist policies and stimulus packages that unfairly subsidise their own countries' companies.
Politicians and protesters must understand the answer is more globalisation, not less.
The global economic crisis also means it is even more critical the Doha round of trade talks is concluded - with rich nations limiting their agricultural subsidies, while big developing nations open up their markets in farm and industrial goods.
Such moves will allow retailers to play their part in offering ordinary customers cheaper prices, therefore boosting consumer demand and ending the recession as soon as possible.
Alisdair Gray, British Retail Consortium Trade Director, said: "The G20 leaders have the chance to make history. By committing to extending free trade and rejecting the false attraction of protectionism, world leaders have the power to limit the damage of the current global recession. There should be no new trade barriers.
"The G20 must commit to concluding the Doha round of trade talks by the end of this year. This means richer nations curtailing subsidies and trade restrictions, while big developing nations open up their markets. That will help retailers provide cheaper goods to ordinary customers, giving the global economy a huge boost and bring forward the end of recession."
Media Contacts: BRC Press Office 020 7854 8924 Out of hours 07921 605544
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