Economy, Domestic Economy
0

Fake Brands

Fake BrandsFake Brands

Ninety percent of clothes sold in the name of foreign brands in the market are counterfeit, Mohammad Mehdi Ra’ees-Zadeh, the secretary of Association of Iran Textile Industries (AITI), said on Saturday.

“The reason is that foreign brands are more popular, although Iranian-made products have better quality,” he was quoted by ISNA as saying. “According to the law, foreign brands will be exempt from tax for up to five years provided that they collaborate with Iranian companies and export 30% of the products,” he noted. Nearly 32% of the smuggled clothes are from China, followed by Turkey and the United Arab Emirate, adding that 80% of the garments smuggled from the UAE are originally made in China.”

Financialtribune.com