In tight economic times, international dialogue on regulations is imperative
Because of different and often conflicting regulations, exporting a product or a large piece of equipment to more than one country can be like navigating a maze. And the costs of complying with these regulations are further inflated by the various tests and certificates.
The United Nations has reported that in recent years, government-mandated testing and certification requirements have increased almost seven-fold. But times may finally be about to change.
In a tight economy, companies can’t afford to be spending money on multiple costly tests. Governments are also realizing that by insisting on these tests they’re reducing the incentives for corporations to export innovative products to small markets.
As President Barack Obama recently stated: “international regulatory cooperation … can reduce, eliminate, or prevent unnecessary differences in regulatory requirements” . (Executive Order 13609)
It’s now time for regulatory authorities to renew dialogue. Dialogue entails a very small investment but reaps large benefits for business communities across borders. And, like in our interpersonal relationships, dialogue promotes trust. Ultimately, regulatory authorities need to trust the tests carried out by their partner countries before they’ll allow products tested elsewhere into their own markets.
Regulatory dialogue constitutes a vital step towards the free circulation of goods, the transfer of knowledge and technology, and the achievement of sustainable production and consumption.
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