Executive Briefings

Global Shipping Leaders Take on Counterfeit Goods Trade

Leaders from global shipping firms, freight forwarders, brand owners whose products are counterfeited and organizations representing both industries recently signed a joint Declaration of Intent to Prevent the Maritime Transport of Counterfeit Goods in Brussels.

The event marked the first time the global shipping industry and brand owners have made a public commitment to work together to stop the transport of counterfeit goods on shipping vessels.

Initial signatories include leading global shipping firms, freight forwarders and 10 major multinational brand manufacturers, along with the International Federation of Freight Forwarders Associations (FIATA), and the International Chamber of Commerce’s (ICC) Business Action to Stop Counterfeiting and Piracy (BASCAP) and Commercial Crime Service (CCS).

More transporters, brand owners and their industry associations are expected to join the voluntary initiative as awareness grows.

According to the United Nations Office on Drugs and Crime, about 90 percent of all international trade is moved around the world in more than 500 million containers on 89,000 maritime vessels. While this represents approximately 90 percent of all international trade, UNODC says that less than 2 percent of these containers are inspected to verify their contents. This results in enormous opportunities for criminal networks to abuse this critical supply chain channel to transport huge volumes of counterfeit products affecting virtually every product sector.

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The event marked the first time the global shipping industry and brand owners have made a public commitment to work together to stop the transport of counterfeit goods on shipping vessels.

Initial signatories include leading global shipping firms, freight forwarders and 10 major multinational brand manufacturers, along with the International Federation of Freight Forwarders Associations (FIATA), and the International Chamber of Commerce’s (ICC) Business Action to Stop Counterfeiting and Piracy (BASCAP) and Commercial Crime Service (CCS).

More transporters, brand owners and their industry associations are expected to join the voluntary initiative as awareness grows.

According to the United Nations Office on Drugs and Crime, about 90 percent of all international trade is moved around the world in more than 500 million containers on 89,000 maritime vessels. While this represents approximately 90 percent of all international trade, UNODC says that less than 2 percent of these containers are inspected to verify their contents. This results in enormous opportunities for criminal networks to abuse this critical supply chain channel to transport huge volumes of counterfeit products affecting virtually every product sector.

Read Full Article