By EA Trade Review Reporter and Agencies
Many countries across the globe are still using illegal methods to protect their market from competition, says a report released by the European Union
The report says global efforts to battle trade protectionism need to be reinforced to help shield the fragile economic recovery across the world.
In a report released last week, the European Commission identified about 150 new trade restrictions introduced over the last year, whereas only 18 existing measures have been dismantled.
The 10th “EU Report on Potentially Trade-Restrictive Measures" provides the latest state of play regarding potentially trade-disrupting measures implemented by the EU's main trading partners between 1 May 2012 and 31 May 2013.
The report covers 31 of the EU's main trading partners, including the G20 countries. These are Algeria, Argentina, Australia, Belarus, Brazil, Canada, China, Ecuador, Egypt, Hong Kong, India, Indonesia and Japan.
Others are Kazakhstan, Malaysia, Mexico, Nigeria, Pakistan, Paraguay, Philippines, Russia, Saudi Arabia, South Africa, South Korea, Switzerland, Taiwan, Thailand, Turkey, Ukraine, USA, and Vietnam.
A total of almost 700 new measures have been identified since October 2008, when the European Commission started monitoring global protectionist trends.