On March 5, 2024, the European Parliament and the Council of the European Union reached a “political agreement” on a Regulation prohibiting products made with forced labor on the European Union (“EU“) market.1 While binding legislation was initially proposed by the European Commission (“Commission“) in September 2022 (see Legal Update of 14 September 2022), the agreement reached on March 5, 2024 provides for important differences, notably as regards the roles and responsibilities of the Commission and the EU Member States’ National Competent Authorities (“NCAs“).
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