Organisation for Economic Co-operation and Development Current Affairs - 2019

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Counterfeit, Pirated Goods and Global Trade

The assessment  by EU Intellectual Property Office (EUIPO) and the Organisation for Economic Co-operation and Development (OECD) carried out based on data from almost half a million customs seizures by international enforcement agencies highlights the following:

  • Global sales of counterfeit and pirated goods have increased to USD 522 billion a year, amounting to a whopping 3.3 per cent of world trade.
  • The share of counterfeit goods has witnessed a considerable rise since its previous 2016 estimate of 2.5 per cent of global trade.
  • Counterfeit goods represented 121 billion Euros worth of imports into the European Union alone which amounted for a massive 6.8 per cent of total imports into the bloc, up from five per cent in 2016.
  • Counterfeiting and piracy posed a major threat to innovation and economic growth, at both EU and global level.
  • Companies which were most affected by counterfeiting and piracy were mainly based in developed OECD nations like the United States, Japan, South Korea and EU states.
  • Even businesses in China, Brazil and Hong Kong are being increasingly hit.
  • Countries exporting the most counterfeit and pirated goods were China, Hong Kong, United Arab Emirates, Turkey, Singapore, Thailand, India and Malaysia.

The EUIPO has expressed deep concerns about the rise in the counterfeit and pirated goods and called for coordinated action, at all levels, to fully tackle the menace of piracy and counterfeit products.

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The Future of Rail Report: Key Facts

The Future of the Rail Report was prepared by the International Energy Agency (IEA) in association with the International Union of Railways (UIC).

Findings of the Report

The report provides a specific focus on India, The important findings of the Future of Rail Report are:

  • Indian railways will account for nearly 40% of total global rail activity by 2050.
  • The Investments in Indian urban rail infrastructure is estimated to reach nearly $190bn by 2050.
  • The report notes that India can save up to $64bn on fuel expenses by that time.
  • The report predicts bright prospects for Indian Railways.

The report notes that the rail sector carries 8% of passengers across the world and 7% of global freight movement but it utilises 2% of the total transport energy demand in the world, signifying its efficiency.

International Energy Agency (IEA)

The International Energy Agency (IEA) is an intergovernmental organization established by the Organisation for Economic Co-operation and Development (OECD) in 1974. IEA even works non-member countries, especially China, India, and Russia.

Initially, IEA was focused on responding to physical disruptions in the supply of oil, as well as serving as an information source on statistics about the international oil market and other energy sectors. Its mandate has been widened to focus on the “3Es” of effectual energy policy: energy security, economic development, and environmental protection.

International Union of Railways (UIC)

The International Union of Railways (UIC) is an international body of the rail transport industry. The UIC was created on 17 October 1922 with the aim of standardising industry practices. At present, UIC had 194 members across 5 continents.

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