Tackling illicit trade in alcohol will put Asean on a growth trajectory
Add BT as a preferred source
IF YOU ever come across alcohol that smells bad or has hilarious spelling errors on its packaging, chances are, it is fake or illegally produced.
The global economy loses over US$2.2 trillion due to counterfeiting and other illicit goods such as food, pharmaceutical and toys. In South-east Asia, illicit alcohol – those not complying with regulations in the countries they are consumed – is a thorny issue that has grabbed the attention of policymakers, the media and public health agencies. The unrecorded alcohol market in Asia is significant, particularly in lower-income countries.
Based on World Health Organization (WHO) data available from the WHO Global Health Observatory, unrecorded alcohol accounts for roughly 26 per cent of total alcohol consumed in Asia, which is significantly higher than in other regions, for instance, Europe and the Americas. In some Asian countries, such as Myanmar, Vietnam and Indonesia, unrecorded alcohol accounts for more than 60 per cent of all alcohol consumed.
TRENDING NOW
Qatari LNG ship struck in Strait of Hormuz, testing US talks
DBS shares rise 1.9% to hit all-time intraday high as sentiment improves
‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis
Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10
