22/04/2024 08:59
The amendment of the EU regulation that promotes consumer cooperation and protection is necessary to address the growing needs of consumers and ensure their protection against challenges, Permanent Secretary of the Ministry of Energy, Commerce and Industry, Marios Panayides, said addressing the informal Council of EU Ministers for Consumer Protection held in Brussels.
According to a Ministry press release, the discussion focused on the proper implementation of the rules governing the internal market, as well as on digital transition, especially with regard to artificial intelligence, e-commerce, but also on influencers who use social networks for promotional activities, and the way this will affect consumers and businesses.
It is noted that in his intervention Panayides spoke about the importance of an efficient and fair internal market that promotes economic prosperity, sustainable and technological development for the benefit of both businesses and consumers.
He added that in order to achieve this goal, there must be a synergy and close cooperation between all stakeholders, he described as imperative the amendment of the EU regulation promoting Consumer Protection Cooperation to address the growing needs of consumers and ensure their protection against these challenges, and also referred to the need for digital education in financial matters, especially for vulnerable groups of the population.
According to the press release, with regard to the digital transition, Panayides referred to the challenges that consumers will face with the implementation of artificial intelligence technology and the need to ensure consumer safety.
Making special reference to influencers, he noted that it is necessary to educate influencers so that they comply with consumer law, especially on the issue of consumer protection from unfair commercial practices, while presenting the actions that the competent department of Cyprus is already taking in this direction.