Business | Economy
Study to reveal true impact of fake goods on economy
A Dubai-based organisation fighting the spread of black market goods has launched a study aiming to find the true impact of Intellectual Property Rights (IPR) violations in the UAE.
- By Robert Ditcham, Staff Reporter
- Published: 00:00 October 10, 2006
Dubai: A Dubai-based organisation fighting the spread of black market goods has launched a study aiming to find the true impact of Intellectual Property Rights (IPR) violations in the UAE.
Commissioned by the Brand Owner's Protection Group (BPG), which includes some of the Middle East's leading corporations, the study will be carried out by audit, tax and advisory services firm KPMG. Results are expected in early 2007.
"The economic impact study aims to identify the size of counterfeiting in the UAE market for the brands covered under the BPG umbrella," said Omar Shteiwi, chairman of BPG and regional intellectual property advisor, Nestlé Middle East.
He told Gulf News the study will examine the percentage of counterfeits and genuine goods in three sectors - automotive and spare parts, pharmaceutical and health care, and fast-moving consumer goods (products bought on a daily basis).
Recent figures put the value of counterfeit goods seized in Dubai close to Dh10 million from June to December 2005. Fake goods from Southeast Asia represented the bulk of imports with 56 per cent of the market, followed by the Middle East with 26 per cent.
Khalid Al Nour, legal adviser at Dubai Customs' IPR department, said the amount of counterfeit food and medicine on the market has surged. He warned that these products can cause serious health problems.
Shteiwi said the BPG's fight against fakes has been boosted by the addition of several new companies to its membership base, such as skin care, fragrance and hair product company Estee Lauder and pharmaceutical giant GlaxoSmithKline.
Other new members include regional branches of beauty care product company Kao Brands, Kraft Foods, Philip Morris Management Services Limited, AGN MAK Business Consultants, and Khasawneh & Associates Legal Consultants.
They join the likes of BMW, British American Tobacco, DaimlerChrysler, Johnson & Johnson, Phillips International, Procter & Gamble, and Unilever.
Share this article
More from Economy
More from Business
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
Louvre, Golden Tulip hotel chains to expand in region
Dubai could host first establishment in 2010
-
Lending slows down in eurozone
Central Bank will this week announce revisions to liquidity-boosting measures
-
Global outcry over Dubai World restructuring is exaggerated
About 75 per cent of the $20b bond has already been subscribed
