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G20 should set an example by dropping trade barriers

Wednesday, 1st April 2009

Letter to the Daily Telegraph

Sir

Calls for the G20 to create a 35 billion fund for trade epitomise the current consensus that dealing with a problem equates to throwing taxpayers money at it (World facing trade 'emergency', report, 1st April).

Instead of creating a new fund , G20 nations should set an example to the world by dropping their own trade barriers - which currently cost exporters hundreds of billions of pounds a year - thereby making imports more affordable , driving demand and creating jobs. Such action would serve as the best stimulus package for rich and poor countries, and bring far more inward investment than another fund.

Since the financial crisis exploded in September 2008, 47 national measures which restrict trade have been implemented by 17 members of the G20, according to the World Bank. Our leaders are espousing the virtues of a non-protectionist response whilst duplicitously ramping up the barriers.

Yours sincerely

Syed Kamall MEP
Conservative international trade spokesman in the European Parliament