This problem still rears its head up on the Ghanaian market as the business community have bemoaned the flooding of goods from textiles to pharmaceuticals, among other products.
Reacting to this in an interview with GhanaWeb Business, Member of BRICS Business Council, Dr Stavros Nicolaou, has said the only way to curb this growing menace is to make use of technology to curb counterfeit products.
In his view, the use of barcodes on products will make it difficult for perpetrators to take advantage of the system to abuse it.
Dr Nicolaou also called for the tightening of regulatory frameworks to seal all loopholes.
“The moment you start applying barcodes, you start serializing products, it becomes difficult to bring in counterfeits. We need to strengthen capacity so whether it is in Ghana or the African continent. If we strengthen the regulatory capacities and we start moving into this solution such as barcoding, it becomes very difficult for perpetrators,” he said on the sidelines of the AfCFTA Business Forum in Capetown South Africa.
BRICS Business Council facilitates the promotion and strengthening of businesses, trade and investment ties amongst business communities of the five BRICS countries.
The Council also ensures that there is regular dialogue between the business communities, identify problems and bottlenecks to ensure greater economic, trade and investment ties amongst the BRICS countries.
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Member of BRICS Business Council, Dr Stavros Nicolaou