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Africa needs 'affirmative action' to defeat counterfeit goods trade


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Africa needs to take aggressive measures to protect businesses from losing billions of dollars’ in revenue due to illicit trade of counterfeited goods as it eases trade restrictions among 54 African nations.
“We have to take affirmative action, counter measures, to make sure that we prevent and mitigate this risk,” Wamkele Mene, secretary general of the African Continental Free Trade Agreement (AfCFTA), said on Thursday.
A continent-wide free trade agreement is currently being implemented with a view to reviving Africa s economy and its appeal among global investors. However, the risk of illicit trade of counterfeited goods, including pharmaceutical products amid a global pandemic, may dampen the flow of foreign funds, Mr Mene said at the fourth edition of the Future Investment Initiative in Riyadh. ....

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