Turkey Wastes $10B On Fake Products

The Brand Protection Group (MKG), which has a mission to fight illicit trade and forgery and increase awareness about trademark rights, announced that the increase in the trade of illegal and counterfeit products was worrying. The spokesman for MKG, Dr. Ali ErcanÖzgür underlined the fact that piracy and counterfeit products are causing billions of dollars of losses to the world’s economy as proven by the Illicit Trade Report for 2013 issued by the World Customs Organization, highlighting the issue is now a global problem. Özgür stated that according to the data announced by the Business Action to Stop Counterfeiting and Piracy (BASCAP), the volume of counterfeit product trade has reached around $10.8 billion in Turkey along with millions of lost Turkish lira of tax income.

 

 

http://www.dailysabah.com/economy/2014/11/17/turkey-wastes-10b-on-fake-products