Importantly, the exchange of goods and services, methods, ideas and technologies, as well as capital and investments, has the potential to raise both incomes and productivity. This has clear benefits for food security, while effects on farmers, biodiversity or GHG emissions are more nuanced. While regulations generally help to achieve important policy objectives by responding to a range of societal concerns, often related to market failures, differences in regulations and their enforcement lead to increased costs related to administration, the gathering of information, conformity assessments, etc.