Will compare 79 countries on how well they enable or prevent illicit trade
NEW YORK, October 31, 2017 (Newswire.com) - Today in New York, the Transnational Alliance to Combat Illicit Trade (TRACIT) announced the development of the Global Illicit Trade Environment Index comparing 79 countries on the extent to which they enable or prevent illicit trade.
“Illicit trade drains global GDP, robs governments of tax revenue, imposes unfair competition on legitimate business, increases supply chain costs, fuels corruption and puts cash in the hands of criminals,” said TRACIT Director-General Jeffrey Hardy. “This problem demands a global response and that’s why we joined forces with The Economist Intelligence Unit to produce the Global Illicit Trade Environment Index.”
Illicit trade drains global GDP, robs governments of tax revenue, imposes unfair competition on legitimate business, increases supply chain costs, fuels corruption and puts cash in the hands of criminals," said TRACIT Director-General Jeffrey Hardy. "This problem demands a global response and that's why we joined forces with The Economist Intelligence Unit to produce the Global Illicit Trade Environment Index.
Jeffrey Hardy, Director-General, TRACIT
The Index, commissioned by TRACIT and produced by the Economist Intelligence Unit, will improve the knowledge and understanding of the regulatory environment and economic circumstances that enable illicit trade. Countries will be assessed on several key indicators, including transparency, trade and investment regimes, customs environment, intellectual property protections and indicators associated with criminal activity in the areas of money laundering, corruption and organized crime.
“The initial Illicit Trade Environment Index, which was focused on Asia, drew much-needed attention to this issue, and we believe the global expansion will build on that success by providing new insights into the various forms of illicit trade and the social and economic impact they have on countries across the world,” said Chris Clague, Managing Editor, Asia with The Economist Intelligence Unit. Mr. Clague was the creator of the inaugural Index and author of its accompanying report.
TRACIT is an independent, private sector initiative to drive change to mitigate the economic and social damages of illicit trade by strengthening government enforcement mechanisms and mobilizing businesses across industry sectors most impacted by illicit trade.
The Economist Intelligence Unit is the world leader in global business intelligence. It is the business-to-business arm of The Economist Group, which publishes The Economist newspaper.
The Economist Intelligence Unit helps executives make better decisions by providing timely, reliable and impartial analysis on worldwide market trends and business strategies. More information can be found at www.eiu.com or www.twitter.com/theeiu.
Findings from the Global Illicit Trade Environment Index will help governments better understand their effectiveness to fight illicit trade and help them establish policy priorities and identify areas that merit greater attention. The findings also provide companies and organizations with tools and messages to raise awareness of the illicit trade in goods across the globe. The Global Illicit Trade Environment Index will be published in the second quarter of 2018.
For more information: http://www.tracit.org/global-illicit-trade-index.html
CONTACT:
Cindy Braddon
Head of Communications and Public Policy
TRACIT
Tel: +1 571-365-6885 / cindy.braddon@TRACIT.org
Source: Transnational Alliance to Combat Illicit Trade
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