Counterfeit alcoholic beverages are costing Latvia 20 million euros annually, which is about 9 per cent of legitimate sales of spirits and wine, a new report from the European Union Intellectual Property Office (EUIPO) indicates.
European Union member states’ economies lose nearly 1.3 billion euros and 18,500 jobs each year because of the counterfeiting of alcoholic drinks, the Latvian Patent office relayed.
Spain has posted the greatest loss, 263 million euros, and Latvia’s neighbour Estonia posted losses of 5 million euros.
The article you requested can be accessed only by subscribing to the online version of The Baltic Times. If you are already subscribed to The Baltic Times, please authorize yourself.
In case you don't have a subscription yet - please visit our SUBSCRIPTION