Havering Council has said it is "pleased" Romford will no longer be impacted by the plans to relocate Smithfield and Billingsgate markets to Dagenham after the move was cancelled.
The relocation of the historic markets and their traders to Dagenham was recently called off.
The City of London Corporation, which was behind the plans, previously estimated the new market would have brought 2,700 new jobs to Barking and Dagenham and generated around £14.5 billion for the UK economy by 2049.
It referenced the Royal Charter of the Liberty of Havering, granted by King Henry III in 1247, which prevents the establishment of another market within 6.6 miles of Romford Market.
Last week, City of London Corporation officers wrote in a report that the plan to move Billingsgate and Smithfield to Dagenham Dock had been stopped.
Reacting to the news, Havering Council leader Ray Morgon said: “We cannot comment on the City of London’s announcement that it is suspending its plans for the relocation of the markets.
“We are pleased however, this will mean the issue around direct retail sales to consumers will no longer impact Romford Market.
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“By Royal Charter of 1247, Romford Market is the only retail market allowed to operate within six and two-thirds miles, and this relocation could cause a potential loss in trade and business to our historic market.”
Dagenham and Rainham MP Margaret Mullane called the Corporation's decision "extremely disappointing".
She said: "The promise of this relocation was the cornerstone of trade moving east and our area had a lot riding on it – not least opportunity, skilled jobs of the future, and hope for the next generation.
“Given the amount of work which has gone into preparing the site and promoting the move, I find the lack of communication from the City of London Corporation particularly disappointing.
“In the coming weeks and months, I will be meeting with the City of London Corporation to express the strength of feeling at this decision, and to discuss what plans are being formulated to utilise the land at Dagenham Dock for growth and jobs.
“This is not the end of the site at Dagenham Dock, I will be making strong representations and working alongside the local authority to try and deliver something positive from this news.”
The City of London Corporation did not respond to a request for comment, whilst Barking and Dagenham Council declined to comment.
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