UN conference takes bold actions to protect consumers, promote fair competition in increasingly digital, globalised economy

Geneva [Switzerland], July 12: The world comes together at the United Nations, taking bold actions to protect consumers and promote fair competition in an increasingly digital and globalised economy.
The 9th United Nations Conference on Competition and Consumer Protection concluded on 11 July with a clarion call to safeguard fair, open and competitive markets as digital transformation profoundly reshapes consumption, supply chains and the global economy.
Hosted every five years by UN Trade and Development (UNCTAD), the conference is the world's highest-level multilateral meeting on competition and consumer protection. Over the past week, over 500 participants - government ministers, diplomats and civil society leaders - from more than 100 countries convened in Geneva to navigate pressing challenges and chart a bold new course for the future.
Discussions have ranged from unsafe products and cross-border scams to artificial intelligence (AI) for consumer markets and improving competition in digital markets. The rapid rise of AI was also in the spotlight, with a special session underscoring the need for global cooperation to govern and harness the frontier technology for consumers' benefit.
Put to the right use, AI has the power to make consumer protection systems more agile and responsive.
In this regard, the conference showcased success stories of how consumer protection agencies already leverage AI tools to identify harmful business practices, process complaints and streamline enforcement actions.
Deputy Secretary-General Pedro Manuel Moreno of UN Trade and Development (UNCTAD) hailed both documents as "living tools, designed to evolve and to serve people", calling for redouble efforts worldwide.
"I call on all of you - governments, experts and partners - to renew your commitment," Moreno urged participants. "Together, we can ensure that markets are not only efficient but also fair. Not just open, but inclusive.''
Unsafe products anywhere could pose threats to consumers everywhere in a world underpinned by interconnected markets and fast-moving supply chains. But alarmingly, 44% of UN member states still lack legal frameworks on product safety.
That's why delegates have moved to endorse a draft resolution proposing the first-ever United Nations Principles for Consumer Product Safety, driven by UN Trade and Development's long-standing work and consensus-building under its Intergovernmental Group of Experts on Consumer Protection Law and Policy.
The resolution will move on to the UN General Assembly for formal adoption, with the potential to define global standards for safer products across borders.
Source: Emirates News Agency