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Fake goods trading on the rise; footwear & clothing most counterfeited: report

The  Organisation for Economic Co-operation and Development (OECD) and the European Union’s intellectual property office (EUIPO) have released a report titled Trends in Trade in Counterfeit and Pirated Goods which outlines that fake and pirated goods accounted for 3.3% of the global trade in the last few years. Note that all figures are for the year 2016 unless stated otherwise. This report also does not touch on fake goods in ecommerce, “which is a further drain on the formal economy.”

According to the OECD and EUIPO, fake goods trade infringes on copyrights and trademarks, creates profits for organised crime gangs, and can become a significant health and safety risk. The report adds that ‘insufficient screening of small parcels, policy gaps like inconsistent penalties on traffickers and the special rules governing free trade zones’ can lead to facilitating this fake goods trade.

Top traded fake goods for 2016

Footwear was the topmost traded fake item at 22%, followed by clothing at 1…

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