UN Tweeted That Unsafe Products Exact A High Price On Consumers Globally

Unsafe products have long been a threat across borders. But 60% of countries – many in the developing world – lack experience in enforcing transnational consumer protection. Rogue traders whose unsafe products have been withdrawn from one market can export them to countries with weaker consumer product safety, disregarding consumers’ right to safe products. Billions of people face the greatest cost-of-living crisis in a generation due to rising food and energy prices amid tighter financial conditions. Vulnerable consumers are in a dire situation.

UNCTAD’s analysis shows that a 10% increase in food prices will trigger a 5% decrease in the incomes of the poorest families, equivalent to their health expenditure. As consumers try to reduce their spending, they will pay a high price if they buy unsafe products. The United States reports 43,000 deaths and 40 million injuries per year associated with consumer products, with yearly costs of over $3,000 per capita. Governments must strive to continue and succeed in their long-term mission of protecting their consumers, a mission of renewed relevance today.

Unsafe Products A Threat Across Borders
Keeping consumers safe is a top priority for governments around the world. UNCTAD research shows that general safety requirements and liability regimes embedded in-laws, along with standards, are the cornerstones of consumer product safety frameworks around the world.

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 are less able to tackle unsafe products. International cooperation is therefore needed to improve product safety for all consumers. In 2020 UNCTAD adopted its first recommendation on product safety. It aims to curb the flow of unsafe products being traded internationally, by strengthening ties among consumer product safety authorities and sensitizing businesses and consumers.

It points to the urgent need to eradicate unsafe and hazardous products being traded and manufactured. UNCTAD’s recommendation offers a huge potential for protecting consumers in my country and in yours if implemented on a broad scale. By working together, we can improve product safety for all our consumers.

Over To You:
As consumers often underestimate risk and may decide to purchase the cheapest products out of financial necessity, UNCTAD urges authorities to educate consumers on the possible safety consequences of decisions based solely on price.