Geneva, Jan 30: Counterfeiting and piracy costs the
global economy at least USD 100 billion every year, the
Geneva-based World Intellectual Property Organisation warned
on Tuesday.
The warning comes as business leaders and government
officials were meeting in the Swiss financial city for the
third global congress on combating counterfeiting and piracy.
Attendees include the heads of Interpol and the
International Chamber of Commerce.
"Today, almost every product on the market is a target of
counterfeiting and piracy, endangering human health and safety
and undermining economic development," WIPO said.
China and Russia are the worst-rated countries in
addressing counterfeiting and piracy, according to a survey
by the International Chamber of Commerce released yesterday.
The ICC said this mirrored a recent survey by the
European Commission which identified China as accounting for
two-thirds of all counterfeit goods seized in the EU.
Bureau Report
First Published: Tuesday, January 30, 2007, 00:00