The leaders of the G8 must take bigger, bolder steps to beat back counterfeiting and piracy, the International Chamber of Commerce said today in a letter sent to G8 leaders in advance of their Summit Meeting in Heiligendamm, Germany. The ICC letter, signed by 23 CEOs and senior business executives, included recommendations for immediate actions to be taken by G8 countries.
“ICC welcomes the importance the G8 has placed on this critical global issue, by keeping counterfeiting and piracy on the agenda for the past four summits and by setting up a working group on intellectual property rights,” said Jean-René Fourtou, Chairman of the Supervisory Board of Vivendi and Co-Chair of ICC’s Business Action to Stop Counterfeiting and Piracy (BASCAP) initiative. “It is now critical, however, that the words be turned to concrete actions by G8 governments to bring an end to the increasing damage being done by this illegal activity. Other government leaders watch the actions being taken by G8 countries, and we are asking the leaders of the G8 governments to take immediate steps to demonstrate their commitment to stop counterfeiting and piracy and to urgently take tougher measures that will serve as an example to the rest of the world.”
Counterfeiting and piracy are growing at an alarming rate. ICC estimates that businesses lose a total of US$ 600 billion to counterfeiters each year, including fake products moving across borders as well as those produced and sold domestically and those traded on the Internet. In addition, this illegal activity generates enormous costs to the global economy, in areas such as employment, consumer health and safety, technology transfer, tax revenues and public finance and law enforcement.
See full Press Release.
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