Turkey ranks second in fake goods market
Turkey’s Registered Brands Association (TMD) aims to take action against counterfeit products as Turkey has the second-largest fake product market in terms of legal cases. Turkey has the second-largest market of counterfeit products in the world after China, in terms of legal cases, said Tahsin Özlenir, the president of TMD. Of the almost 8,000 suits to protect brands, 4,000 were filed by TMD.He said the fake products market value had increased from $500 million to $1 billion in Turkey in the last 10 years, adding that the volume in the world is around $350 billion, 17 percent of global trade. Özlenir said Turkey should take steps on this issue, he added. TMD’s goal is for police forces to pursue fake products ex-officio in order to evaluate instant notices effectively and to introduce stricter penalties for fake products through new regulations. However, TMD pointed out that new regulations are needed in the field of “parallel imports.” Özlenir said that particularly as e-commerce developed in Turkey, everyone has become able to buy goods from abroad and sell them. “Fake and original products are mostly mixed in this trade [e-commerce],” he said.
Related Posts
Sold fake Tiffany jewelry, Ottawa woman sent to prison for three years
A woman who sold hundreds of thousands of dollars worth of counterfeit Tiffany...
35 lakh tablets, 2 quintal tramadol powder seized
As many as 35 lakh tablets and two quintals of tramadol powder were seized by the...
Higher cigarette taxes boon to organised crime
Higher taxes aren't generally a path to economic growth and job creation. Higher...
Gold Smugglers Caught on Flight After Shifty Behaviour Gives Away Their Plan
Three individuals were caught smuggling gold after they raised suspicion among...