THE MIDDLE EAST: A HUB FOR FAKE CAR PARTS
December 1st, 2007
BY PAUL COCHRANE, in Kuwait
THE MARKET for fake car parts in the Middle East is rising at an alarming pace, now accounting for an estimated 30% of the region's US$11 billion parts sector. In a recent Organisation for Economic Cooperation and Development (OECD) report, the Middle East was highlighted as a central market in the US$16 billion global trade in fake auto parts, which is growing at an estimated 9-11% a year.
In the Middle East, the counterfeit parts market has increased by 10% in volume since 2003, with an increase of over 50% rise in the cash value, ...
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