PARIS - Governments should work more closely with companies and strengthen enforcement to fight the rising global trade in counterfeit and pirated goods, according to a newly released report from the Organization for Economic Cooperation and Development.
Based on data from customs seizures in OECD countries, estimates of trade in counterfeit and pirated goods may have totaled $200 billion in 2005. The total value of trade in counterfeit and pirated goods may have been several hundred billion dollars higher, the report said. Its estimate excludes the value of digital products distributed via the Internet.
Fake goods are being produced and consumed in most economies, with Asia emerging as the main region for such trade and China as the single largest source of production.
The report suggests several ways to address the growing issue, including an increased enforcement of existing laws and improved cooperation between governments and industry on developing new policies. Educating consumers on the ramifications of counterfeit goods is another important step to reducing the market for fake products.
One of the biggest challenges facing governments and business is getting reliable and up to date information on the extent of counterfeiting and piracy and the impact on economies, according to the OECD report.
The executive summary can be read by clicking here. The full report will be released at the end of June.
