By Kabir Muhammad
Esteban Giudici, Senior Analyst, Transnational Alliance has said that economic leakages from illicit trade creates an annual drain on the global economy of 2.2 trillion dollars, equivalent to three per cent of the world’s economy.
Giudici said this during the 2019 Africa Security Forum (ASF) at Rabat, Morocco on Thursday.
He said data on this activity has previously been scarce, adding that there are mounting evidence of the economic, social and environmental losses it caused.
“If illicit trading were a country, its economy will be larger than Brazil, Italy and Canada – and as large as Mexico and Indonesia combined.
“Illicit trade significantly endangers all aspects of the SDGs.
“The World Economic Forum estimated the value of illicit trade and transnational criminal activities at eight to 15 per cent of global Gross Domestic Product (GDP) in 2014.
“With estimations of various illicit activities running upward of $3 trillion;…
Source: News Agency of Nigeria
