Saudi Arabia warns against commercial fraud, counterfeiting

Saudi Arabia Finance Minister Ibrahim Al-Assaf warned on Sunday against negative consequences and the growing dangers of Commercial Fraud, Counterfeiting and Intellectual Property Rights Protection on all governments and specialized organizations.  The minister made his remarks in a speech during the opening of the third Arab Forum here, noting that such phenomenon was apparent due to progression in open markets and to all commodities.  Al-Assaf added that damage due to counterfeiting has reached all countries and societies, noting that consumers must increase their awareness.  The Forum aims at contributing to regional and international efforts to combat commercial fraud and counterfeiting and to protect intellectual property rights.  Following the opening ceremony, Dr. Al-Assaf opened the Second Arab Exhibition on Consumer's Awareness of Genuine Products.  The exhibition will foster the awareness aspect due to the importance of the genuine products.  The exhibition will also enable the specialists and participants to be aware of the role and contributions of relevant agencies involved in combating commercial fraud and counterfeiting.  The Exhibition will provide opportunity to the trademark holders to introduce genuine products.