Business
176 Countries Adopt Pact On Illegal Tobacco Trade
A total of 176 countries, have adopted what WHO Director-General Margaret Chan called a “game-changing’’ global agreement to combat illegal tobacco trade.
The pact was ratified at a meeting in Seoul, South Korea, at the WHO’s Framework Convention on Tobacco Control (FCTC).
The agreement came into force in 2005.
“The treaty envisages an international tracking system which aims to halt the smuggling and counterfeiting of tobacco products, a trade which accounts for 11 per cent of the total tobacco market.
“This would cost governments an estimated 40 billion dollars in lost tax revenue,’’ the WHO said in a statement.
The statement quoted Chan as describing the pact a major step towards for “eliminating a very sophisticated criminal activity’’.
The statement said the protocol gives signatory states five years to establish a tracking and tracing mechanism on cigarettes and every other tobacco product.
The system will use non-removable markings and will be coordinated globally to detect illegal tobacco trading.
“Agents, suppliers and tobacco manufacturers will all have to be licensed. Manufacturers will have to carry out checks on customers to ensure they are genuine or if they have associations with criminal organisations,’’ it noted.
Business
Association Woos Govt, Coys On Boat Operators Employments
Business
FG Approves $1 Bn AFCFTA Credit Facility For Nigerian Exporters
Business
NIWA Harps On Avoidance Of Leaking Boats
-
News11 hours agoNigeria Won’t Surrender Any Territory To Criminals -Tinubu
-
News11 hours agoFG Begins Trial Of Over 600 Terrorism Suspects
-
Niger Delta8 hours agoWarri Airport Manager Disputes Air Peace Bird Strike Claim
-
Rivers8 hours ago79th IAUE Inaugural Lecture: Prof Anero Advoctes Tuition-Free Education For Children
-
News11 hours agoRivers Judges Commence Annual Vacation, July 20
-
Politics8 hours ago
2027: Rivers PFN To Mobilise 600,000 Votes
-
News11 hours agoRSG Reaffirms Commitment To Women’s Empowerment
-
Politics7 hours ago2027: Tinubu’s Projects Give APC Edge In South East – Yilwatda
