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OECD – Global Trade in Fakes: A Worrying Threat
A study published by the OECD, presenting an updated quantitative analysis of the value, scope and magnitude of world trade in counterfeit and pirated products. Based on data for 2019, it estimates that the volume of international trade in counterfeit and pirated products amounted to as much as USD 464 billion in that year, or 2.5% of world trade.
OECD view on Free Zones – “Enhancing Transparency in Free Trade Zones”
Recent work by the OECD has shown that Free Trade Zones can offer advantages to businesses through lighter regulations, but also generate opportunities for illicit trade. Read more about the OECD's “Recommendation of the Council on Countering Illicit Trade: Enhancing Transparency in Free Trade Zones" here. It is important to know that duty- and tax-free sales are not free zone sales. Duty free sales take place in a highly regulated retail environment e.g. airports, ports, ferries, cruise ships and land border shops, and their operations are governed by national customs authorities. Our supply chain is one of the most secure in the world with processes and technologies in place to provide for verification of registration, compliance, certification, review and audit.