EuroCham proudly launched a second policy discussion series regarding the challenges of illicit trade, taking place on the 13th October 2015.
This session followed on the successful event held on April 15th where brand owners and government officials from the region gathered to exchange opinions, best practices and challenges their organisations face in fighting against illicit trade.
This time, the roundtable discussion emphasized the importance of strong ties between the government and the private sector for the purpose of fighting illegal business practices while enforcing intellectual property rights.
Illicit trade is an ever-growing phenomenon impacting and hurting a lot of different industries and nations. While industries suffer due to counterfeit goods, governments may observe a decrease of trade efficiency and be hurt by reputational damage. In line with the above, EuroCham praises Singaporean authorities for their commitment to protecting brand owners and laws in place allowing for enhanced border measures in relation to IP-infringing goods.
This closed-door event sought to foster awareness among today’s industry leaders regarding the harmful impact of illicit trade and its consequences on innovation and business in general.
The attendees combined both customs officials as well as senior industry representatives. This mix of participants shall have enabled learning and understanding among both groups.
About the speakers: