Spire DCEO talks about the growing counterfeits trade, and solutions for ASEAN
By: Spire Research and Consulting
The American Chamber of Commerce (AmCham) in Singapore brought together a panel of experts for a webinar on 3 September 2020. On the panel were Spire DCEO Japnit Singh, Bird & Bird ATMD's Anan S. Sivananthan, Philip Morris International's (PMI) Lina Baechtiger and P&G's Senior Legal Counsel Brand Protection for APAC, Laure Catoire. Panelists agreed that registration tools need to be utilised, such as copyright and IP registration, to manage the sale of counterfeit goods, especially on E-commerce platforms. Also highlighted were solutions to manage the illicit goods in the market through collaborations between E-commerce platforms.
Japnit shared that even though total world trade is shrinking, the counterfeits market is expected to grow beyond 3.3% of world trade. This will not only cause revenue loss to brands but could also pose a health and safety risk to people in certain categories such as medication. He added that Spire's recent research has found new counterfeit manufacturing hubs emerging in Asia and Africa, re-emphasising the crucial role technology can play in brand protection.
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