Fake products harm economy – PCCI

MANILA, Philippines - The Philippine Chamber of Commerce and Industry (PCCI) has warned the government on the ill effects to the economy of the proliferation of counterfeit products.

In a statement yesterday, PCCI president George Barcelon said growth of pirated products in the market should be avoided as this would trigger negative socio-economic impact on consumers, industries and government similar to those of illegal drugs and corruption.

He said fake products threaten not only the well-being of Filipinos but also cause layoffs, impact expansion of businesses, and discourage entry of more foreign investments.

Jesus Varela, chairman of the PCCI intellectual property committee, for his part said counterfeits and pirated products flooding a market would hurt brand owners, consumers, industries and the government itself.

“The fight against counterfeiting and piracy is a herculean challenge. But the campaign to protect local business and consumers must be waged without let-up to enable the country to cope with the tough competition brought about by economic integration and globalization,” Barcelon said.

The country’s largest business organization said it is one with the government in its intensified campaign against organized crime engaged in counterfeiting and piracy of products.

PCCI is urging the government to sustain policies and law enforcement to promote and protect intellectual property that have kept the Philippines off the US piracy watch list for three consecutive years now.

The United States Trade Representative Special 301 Watch List identifies countries with intellectual property rights problems.

This year’s report reviewed 73 US trading partners, in which 34 were placed on the priority watch list.