Context
Consumer protection is essential in order to maintain a balance between businesses and consumers. It promotes economic, socially just and environmentally friendly developments and contributes to the Sustainable Development Goals (SDGs) of the United Nations.
The rapid growth of emerging economies and global developments such as digitalisation and globalisation have significantly changed the economies of developing and emerging countries. New regulations that protect consumers are therefore needed, as are instruments that enforce these regulations.
At the same time, new technologies and innovative market participants offer opportunities to develop new approaches. These balance the relationship between consumers and businesses and promote environmentally friendly consumption.