Forty percent of goods on Saudi markets are counterfeit
At least 40 percent of all merchandise sold on the Saudi market is counterfeit, asserts a report recently issued by the Saudi ministry of commerce. Such products, which appear to be brand named but in fact bear fake trademarks, are generally substandard.
Saudi authorities maintained that trade in fake products harms both buyers and sellers. It is also damaging to the national economy, as such illegal market activity turns away potential investors, reported Jeddah Arab News.
In a bid to combat the retail crisis, ministry officials have launched an anti-counterfeit campaign, urging all Saudi citizens to report cases of faked goods being sold on the markets. The ministry of commerce has also set up a department, which will inspect trade points and confiscate goods in the case of fraud. — (MENA Report)
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