Forum calls for coalition against counterfeit

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Leading industrialists have called for the creation of a global coalition to tackle the problem of fake goods, which they believe is hurting business and government tax revenues by around $450bn annually

British American Tobacco (BAT) ceo Martin Broughton and Procter and Gamble chairman John Pepper were among those voicing concerns at the World Economic Forum in Davos, Switzerland, last week, with Broughton suggesting that counterfeit cigarettes represent 3% of BAT's annual sales - 25bn sticks.

As well as raising awareness of the counterfeit problem, the coalition would enlist the help of a neutral body - such as the Organization for Economic Cooperation and Development - to study the proliferation of the fake phenomenon and its economic impact. The calls follow a recent proposal by the European Commission that extends customs authorities' powers in intellectual property cases. Click here to read about the proposal.