The Transnational Alliance to Combat Illicit Trade (TRACIT) is described as an independent, business-led initiative to mitigate the economic and social damages of illicit trade by strengthening government enforcement mechanisms and integrating supply chain controls across industry sectors.  It has produced a number of reports on various sectors and some countries, as well as global report.  The Global Illicit Trade Environment Index is commissioned by TRACIT and produced by The Economist Intelligence Unit (EIU).  The Index evaluates 84 countries on their structural capability to guard against illicit trade, highlighting specific strengths and weaknesses.

One of its reports focuses on free trade zones, with 5 case studies – Panama’s Colon FTZ, and in Belize, Colombia, UAE and Singapore.  The findings into these 5 countries are said to show that there is much more that can be done to minimise vulnerabilities to illicit trade occurring in their FTZ and, as a result, achieve a higher score on the Global Illicit Trade Environment Index.  These findings are also relevant, to varying to degrees, to zones elsewhere in the world.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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