EU worries over 372 trade barriers against exporters

Cecilia Malmstroem, the EU Trade Commissioner said.

The EU has expressed worry over 372 trade barriers against its exporters in 2016 largely by some of the G20 countries.

The union in its annual report published on Monday stated that largest share of the barriers came from Russia, Brazil, China, India and Indonesia.

The EU expressed concern that Russia introduced the largest number of new trade barriers faced by European exporters in 2016.

According to the report, the measures introduced by Russia could potentially affect trade flows worth up to 12.26 billion euros (13.71 billion dollars).

The report stated that along with Russia, the other countries topping the list of places that have introduced the most new protectionist measures in 2016 include Switzerland and Algeria.

“We clearly see that the scourge of protectionism is on the rise. It affects European firms and their workers.

“Wines and spirits, agriculture as well as fisheries were the sectors recorded with the highest number of new reported barriers.

“It is worrying that G20 countries are maintaining the highest number of trade barriers,” Cecilia Malmstroem, the EU Trade Commissioner said.