SGS Performs First Ever Audit of Free Trade Zone to Counter Illicit Trade Donnerstag, 20. März 2025 - 07:36
SGS, the world’s leading testing, inspection, and certification company, has been recognized by the OECD Working Party on Countering Illicit Trade for performing the first ever pilot audit of a Free Trade Zone in Barcelona, Spain.
A Free Trade Zone is an area where several countries sign a free trade agreement and maintain little to no barriers to trade in the form of tariffs or quotas among one another.
SGS led the TIC Council Task force on Free Trade Zone from 2021 to 2024 and was responsible for the coordination and preparation of the Scheme.
The OECD Certification Scheme assesses and monitors compliance of Free Trade Zones against a Code of Conduct based on evidence and independent auditing.
The certification opens up a significant market: there are around 6,000 Free Trade Zones in the world, which can benefit from this voluntary certification scheme to bolster their trade credentials.
Géraldine Picaud, CEO of SGS, commented:
We are thrilled to reach this major milestone with the OECD, and we hope we will start to see the positive impact this Certification Scheme will have on reducing illicit trade. We are proud to be part of this successful initiative, and we look forward to expanding the community of OECD certified Free Trade Zones.
SGS is the world’s leading Testing, Inspection and Certification company. We operate a network of over 2,500 laboratories and business facilities across 115 countries, supported by a team of 99,500 dedicated professionals. With over 145 years of service excellence, we combine the precision and accuracy that define Swiss companies to help organizations achieve the highest standards of quality, compliance and sustainability.
Our brand promise – when you need to be sure – underscores our commitment to trust, integrity and reliability, enabling businesses to thrive with confidence. We proudly deliver our expert services through the SGS name and trusted specialized brands, including Brightsight, Bluesign, Maine Pointe and Nutrasource.
SGS is publicly traded on the SIX Swiss Exchange under the ticker symbol SGSN (ISIN CH0002497458, Reuters SGSN.S, Bloomberg SGSN:SW).
