Anti-Counterfeit Authority of kenya has hosted Fair Competition Commission (FCC) of Tanzania in renewed regional efforts to combat cross-border trade in counterfeit goods in a move to reciprocate Kenyas counterpart visit to Tanzania last year.
Speaking during the event at the Anti counterfeit Authority offices in Nairobi kenya, Dr. Robi Mbugua Njoroge, Executive Director of the Anti-Counterfeit Authority has said there is urgent need to address the counterfeit menace, highlighting the detrimental impacts on the economy, investor confidence, and innovation.
On his part Mr. William Eroi, Director General of the Fair Competition Commission, emphasized the patriotic duty shared by both agencies to stand for fair and open trade, ensuring economic growth and prosperity across their nations and sealing loopholes for the trade.
Regional assessments by the International Peace Institute indicate an annual market share of Ksh 180 billion for counterfeit trading within the East African Community as of 2017. In Kenya alone, counterfeit trading was valued at Ksh 70 billion in 2017, reaching Ksh 90 billion in 2029, rivaling key sectors like tourism, tea, and coffee – traditionally top earners for the country.
The renewed partnership opens avenues for law enforcement agencies to develop innovative approaches and strategies in combating counterfeit trade. Areas of collaboration will include information sharing for enforcement actions, public outreach, research, and expertise exchange, with the overarching goal of enhancing investigative capabilities and intelligence networks to successfully tackle counterfeit and illicit trade activities.
According to the OECD's 2018 report, counterfeiting represents one of the largest criminal enterprises globally, with estimated domestic and international sales ranging from $1.7 trillion to $4.5 trillion annually, surpassing even drug trafficking and human trafficking in scale.
