The Food industry has helped forge a plan to push governments into fighting product counterfeiting more effectively.
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The Business Action to Stop Counterfeiting and Piracy (BASCAP) group (launched by the International Chamber of Commerce) will coordinate actions this year, which – said the chamber – will “ensure policymakers have sufficient information to make decisions, implement policies and apportion resources; and compel national governments to implement legislation protecting intellectual property.”
Peter Brabeck-Letmathe, chairman and CEO of Swiss food giant Nestlé, said: “Not only does unfair competition from counterfeiting and piracy worldwide drain billions annually from the virtuous circle of economic growth that intellectual properly generates, but we are particularly concerned about the risks for consumers.”
David Iakobachvili, chairman Wimm-Bill-Dann Foods, of counterfeit-rife Russia, was also involved at the Geneva plan launch.
The event included reports on the socio-economic harm of counterfeiting; a country index on protecting IP highlighting weak governance; a “global compact” of good corporate practices; and improving cross-border trade and customs cooperation.
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