Illicit trade – the production, shipment and distribution of counterfeit or smuggled goods and services, and can include trafficked animals and humans – is a multi-billion dollar industry with severe economic, social and environmental impacts. This type of trade drains 3% from the global economy, annually. It pushes out legitimate economic activity, deprives governments of much needed tax revenues, undermines institutions and the rule of law, and has the biggest effects on vulnerable communities. Fighting illicit trade is a global issue all governments have a vested interest in.

The Association of Southeast Asian Nations (ASEAN), collectively constitute 6.5% of global GDP (PPP), set a goal to achieve economic integration and a single market by 2025. Although improvements have been made, illicit trade has hindered the sustainable development of economies in the region, and beyond, and continues to pose a threat to job creation, biodiversity, and social well-being. ASEAN countries, along with large regional states such as India, have further pledged to achieve the United Nations Sustainable Development Goals (UNSDGs) by 2030. As the 2025 deadline approaches, it is important to look at current barriers to progress and examine new opportunities for international and cross-sector collaboration.

The Illicit Trade Environment Index evaluates 25 countries on their structural capability to guard against illicit trade. The four pillars of the index’s model – governance and co-operation; surveillance and enforcement; customs and border management; and economic management and the regulatory environment – provides a global perspective and new insights on illicit trade’s societal and economic impacts.

Join Economist Impact on Thursday, November 21st 2024 in Manila to meet experts from the region, international trade specialists, as well as the researchers who created the Index. Explore its applications and interact with the data to learn how it can aid decision-making.

Join the event to:

• Gain insight into the full impact of illicit trade in the region
• Explore regional complexities and innovative solutions to fighting these forms of trade
• Investigate new ways in which international co-operation can be enhanced