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APEC loses over US$ 7 billion per year due to counterfeit trade
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Dr David Menachof, Senior Lecturer in Transport Economics and International Logistics and Distribution at Cass. Photo:ANDINA / Juan Carlos Guzmán Negrini.
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Lima, Aug. 22 (ANDINA). The Asia-Pacific Economic Cooperation (APEC) economies lose more than seven billion dollars per year due to counterfeit trade, Cass Business School representative, David Menachof, said today.
He said that in recent years, trade-related crimes including robberies and various types of forgeries have recorded a significant increase which has affected the development and further expansion of trade in the region.
In addition, Menachof mentioned that another factor to be considered is problems that resulted partly from the September 11, 2001 terrorist attack and its impact on commercial transactions.
He said that since then, the international trade context has changed dramatically and so fast that has encouraged many countries to spend more money on security precautions.
In his speech at the Third APEC Senior Officials' Meeting (SOM III), Menachof stated that when trade-related crimes began to appear in the Asia-Pacific region, they caused $55 million in losses only in the United States.
He said that combating counterfeiting is a very broad issue and requires that the 21 economies of the Asia Pacific region work on joint strategies to reduce it.
(END) RBM/JPC/EEP
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Date: 22/08/2008 |
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