Countries unite to tackle counterfeit luxury goods |
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| Written by David Shrimpton | |
| Monday, 27 October 2008 | |
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Nine countries have today signed an agreement to fight the $700 billion trade in counterfeit luxury goods, including alcohol brands. The declaration - signed this morning at the Tax Free World Exhibition in Cannes, France - will allow the nine countries to maintain a higher level of awareness and enforcement against fake goods and exchange information to help them in the fight against counterfeiters. The signing was led by French minister for industry and consumer affairs Luc Chatel. He said: "The Declaration of Cannes is a key step towards protecting the rights of producers and beating counterfeiters back into the shadows." The signatories were: France, Portugal, Spain, Italy, Romania, Bulgaria, Turkey, Morocco and Tunisia. Also this morning, TFWA president Erik Juul-Mortense warned that the global financial crisis could end up costing the duty-free sector $1 billion.
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