BUSINESS

Philippines Destroys $39 Million Worth Of Counterfeit Goods

06/30/2011 08:55 am ET | Updated Aug 30, 2011

MANILA, Philippines — Philippine authorities have destroyed $39.4 million worth of fake Louis Vuitton bags, Oakley sunglasses, pirated DVDs and other counterfeit goods to mark World Anti-Counterfeit Day.

Police in armored vehicles crushed piles of items at their Manila headquarters Thursday while other personnel slashed fake handbags. The items were seized over the first five months of this year.

Officials estimated the cost of the goods they destroyed based on the price of genuine items.

Intellectual Property Office Philippines head Ricardo Blancaflor says proliferation of counterfeit goods is a global problem requiring effective enforcement and heightened public awareness.

The Philippines is on a U.S. list of intellectual property rights violators.

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