Billions lost to piracy worldwide

A CRACKDOWN on a €560 billion a year global trade in counterfeit and pirated goods will be sought at the EU-US summit in Dromoland Castle this weekend.

Business leaders from both sides of the Atlantic will urge US President George W Bush and Taoiseach Bertie Ahern, the EU Council President, to lead the fight.

The rackets, mostly under the control of organised crime syndicates, are estimated to represent more than 7% of the world's annual trade and have reached epidemic levels.

Members of the TransAtlantic Business Dialogue (TABD) are so concerned that they have sought specific actions in a wide ranging report on trade generally, which they will present to the summit.

TABD want an EU-US Task Force set up to work directly with Interpol, the international police body, which has forces from 181 countries as members. It is also seeking tougher criminal penalties and the allocation of more resources to tackle the problem.

It claims more law enforcement and judicial training are needed in order to keep pace with the ever-growing sophistication of the criminal elements involved in counterfeiting and piracy.

TABD says the US and EU should combat the problem vigorously both within the transatlantic community and globally.

“Legitimate businesses are hurt by the loss of sales going to counterfeits and pirated goods and services. It means fewer resources are available for entrepreneurs to invest in innovative products and services.

“Businesses are also hurt by the loss of consumer trust in the quality, value and integrity of branded products and services. Companies spend millions fighting piracy that could otherwise be committed to more productive pursuits.”

TABD warns that a society that tolerates the theft of intellectual property encourages dishonesty and could see the erosion of respect for other laws and societal norms.

“If enforcement against intellectual property violations is not stepped up, pirates and counterfeiters will increasingly damage not only legitimate businesses, consumers and governments, but also the rule of law that has brought economic opportunity and justice to the transatlantic marketplace.

TABD is urging US and European governments to make the fight against counterfeiting and piracy a top joint priority.