Australia ranks first in illicit trade prevention in Asia Pacific, Singapore in 7th: EIU survey

SINGAPORE (Oct 12): Australia ranks top in Asia Pacific in preventing illicit trade with a score of 85.2 according to the Illicit Trade Environment Index by the Economist Intelligence Unit commissioned by the European Chamber of Commerce, Singapore.

Singapore ranked seventh at 69.8 tied with Taiwan behind fifth-placed Malaysia (71.8). Emerging countries such as Myanmar (10.8), Laos (12.9) and Cambodia (23.9) dominate the last rankings in the index.

The Illicit Trade Environment Index measures the extent a country enables illicit trade through action or inaction, and is based on findings from an extensive literature review, inputs from academic experts, business and international organisations. The index has four main categories, intellectual property, the extent of the country’s IP laws and enforcement, transparency and trade, the extent of governance over free trade zones and transshipments, customs environment, the effectiveness of customs in preventing illicit trade and supply and demand, domestic policies that discourage or encourage supply and demand for illicit goods.

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