The “fundamental building blocks” of free trade are increasingly being challenged by protectionist policies, according to a statement from the International Federation of Freight Forwarders Associations.
FIATA issued the statement in response to “dangerous” recent developments that challenge free trade on “several fronts.”
“Progress translates into investing in infrastructure and trade facilitation instruments, with a view to ensuring sustainable services with logistics connectivity and reduction of trade transaction costs, refuting protectionism as it is dangerous to development,” a spokesperson for FIATA said.
Headquartered in Glattbrugg, Switzerland, FIATA is a non-governmental organization, representing about 40,000 forwarding and logistics firms worldwide.
“Long-term initiatives should focus on updating, upgrading and maintaining infrastructure, as well as promoting infrastructure development as a means to the end stagnation and promoting growth and jobs in a sustainable manner … Without the right policy settings, it is difficult for any country to harness the opportunities for local industries to participate in global value chains,” said Marco Sorgetti, director general of FIATA.
Photo: FIATA raised concerns that protectionist measures will impact free trade. Credit: Wikimedia