European Parliament tightens the future Regulation on “prohibiting products made with forced labor on the Union market”
On October 16, 2023, the Internal Market and International Trade committees of the European Parliament adopted their position on the future EU Regulation “on prohibiting products made with forced labor on the Union market” (the “Regulation”).
This Regulation was proposed by the European Commission on September 14, 2022, with the aim of combating forced labor and promoting corporate sustainability standards.
On a global scale, the use of forced labor remains widespread, affecting some 27.6 million people worldwide, according to the International Labor Organization (“ILO”).