Australia has topped the overall rankings for preventing illicit trade, ahead of New Zealand and Hong Kong, in a report published by the Economist on 12 October. The report on the Illicit Trade Environment Index measures 17 economies in the Asia Pacific region on the extent to which they enable illicit trade.
The economies were measured in the four categories of intellectual property, transparency and trade, customs environment and supply and demand.
Australia placed in the top two tiers in all four categories. The report recognised Australia’s strong performance in protecting intellectual property rights and robust customs environment that facilitates lawful trade, while preventing illicit goods from crossing the border.
The report also noted Australia’s commitment to working collaboratively with stakeholders in the region to disrupt the illicit trade in goods and the establishment of the Australian Trusted Trader programme to further reduce clearance times and focus resources on intercepting illicit goods.
The full report is available at The Illicit trade Environment Index.