Rapid growth in free trade zones – where economic activity is driven by reduced taxes and customs controls, light regulation and limited oversight – is unintentionally fostering growth in counterfeit goods trafficking, according to a new report by the OECD and the EU’s Intellectual Property Office.
Illicit trade has a negative impact on economic stability, social welfare, public health, public safety & our environment. To mitigate this global risk, public and private sector decision makers need a firmer understanding of the magnitude and nature of its impacts on economic activities, and a clearer understanding of the conditions that enable it.
“The OECD has long been an advocate for market openness that supports sustainable and inclusive growth.” OECD Secretary General Angel Gurría said in response to the signing.
The OECD Secretary-General Angel Gurría called on the governments of steel-producing economies to address the root causes of today’s steel crisis through multilateral approaches, and in particular through the Global Forum on Steel Excess Capacity.
Inconsistent penalties, insufficient checks on small parcels, and a lack of information on shipments in free trade zones allow criminal networks to traffic billions of dollars worth of fake and prohibited goods each year. Today, the OECD introduced a new phase in its efforts to help governments counter these enforcement gaps and better protect consumers and businesses.
Robust growth in G20 international merchandise trade in fourth quarter of 2017
Deepening regional integration within the Southern African Development Community (SADC) will raise potential growth for all member countries.
G20 merchandise trade growth accelerates to highest pace in six years
G20 Leaders are firmly committed to open trade and investment and to resisting protectionism in all its forms. They have mandated WTO, OECD and UNCTAD – the leading international organisations in the area of international trade and investment policies – to monitor policy developments and report publicly on these commitments.
Evidence on the role played by investment in global value chains (GVCs) can assist policy work on GVCs, trade, investment and development. Drawing on new and improved measures of trade and investment, these country notes provide relevant statistical information from OECD databases on trade, investment, the activities of multinational enterprises and global value chains.