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Counterfeit goods cost $50bn
- Saudi Arabia: Sunday, November 18 - 2007 at 09:48
Mohammed Abu Azab, the Business Development Manager at Hemaya Universal, has said that counterfeit products are costing Arab countries around $50bn a year, with Saudi Arabia's share of the losses amounting to $4bn, reported the Saudi Gazette. Abu Azab said the problem needs to be addressed urgently and he recommended the implementation of new regulations to protect consumers like those found in many western nations.
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Jonathan Sheikh-Miller, Deputy EditorSunday, November 18 - 2007 at 09:48 UAE local time (GMT+4)
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