Mexico, recorded formal trade loss of millions to “piracy”

The formal business of the country has lost 75 billion dollars a year due to the piracy and smuggling, estimated the president of the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco-SERVYTUR) , Jorge Dávila Flores. Said at a news conference that the figure is “stratospheric” if a comparison is made with captured in FDI, remittances and the sale of oil per year. He recalled that remittances are captured around 21 billion dollars a year by selling 25 billion oil and foreign tourists some 12 billion. Read Article