Too good to be true: the real price of fake products

When we hear the word counterfeiting we tend to think of criminal gangs printing bags of money. However, according to the Vice President of the European Commission Antonio Tajani, counterfeiting activities account for over 200 billion euro in losses for the world economy in the market for medicines, fashion goods, food products, car parts, electrical appliances, cosmetics and children’s toys, and it’s getting worse.  “They harm the European economy, as they damage legitimate business and starve innovation. And fake goods compete unfairly with genuine products, putting many jobs at risk in Europe,” says Tajani. According to the European Union the problem of counterfeiting poses health and safety risks and “has become a major handicap to growth and employment.” In a bid to combat this new plight Tajani and Commissioner Michel Barnier, responsible for internal market and services, recently called upon European citizens to be aware of the risk of buying fake goods. The latest EU campaign to raise awareness of counterfeiting and the impact it has on local business aims to promote closer co-operation between the European Commission, national authorities – including law enforcement agencies and customs – and consumers, producers and trade associations to stop the production and circulation of counterfeit goods and calls on all Europeans to “make a stand against fake products and buy original products.”

 

http://www.theepochtimes.com/n3/23659-too-good-to-be-true-the-real-price-of-fake-products/