JTI present with a high-level line-up at Delphi Forum X, which is being held from 9 to12 April in Delphi. At a Forum that brings together leading personalities from the fields of politics, economics, business, spirit and knowledge, JTI is represented by Lucine Ovumyan Senior VP Corporate Affairs & Communications and member of the company's Executive Committee.
Ms. Ovumyan participated in two very interesting round tables, with cutting-edge topics not only for the tobacco industry, but also for the State, economy and society.
1. Illicit Trade and State and Public Private Partnership (PPP)
In the first discussion entitled "Tackling Illicit Trade: Public and Private Sector Synergies in Critical Sectors", Ms. Ovumyan stressed that illicit trade in tobacco is a major international problem, as it represents 11% of the total global tobacco trade. By eliminating it could increase public revenues by almost $50 billion annually. In Greece, the public revenues loss to illicit trade is estimated at €600 million per year. But Greece is also an international benchmark, she noted, since with the synergy of the State, the LEAs and the industry the percentage of the illegal market has been reduced from 30% in 2022 to around 20% to date.
Referring to the relations with the Greek State, she praised JTI's cooperation with Independent Authority for Tax Revenues (AADE), with which JTI co-signed a Memorandum of Cooperation in 2023, as well as the co-operation with the newly established Directorate for Combating Organized Crime (DAOE) with significant results to date. Within this context she made distinct reference to the joint anti-illicit trade (AIT) awareness campaign that launched recently, as a great example of private-public cooperation.
Smart regulation & innovation
In the second panel entitled ‘Smart regulation for innovation - In an era of technological breakthroughs, how can economies remain competitive?’ Ms Ovumyan pointed out that good regulation sets boundaries, protects societies and fosters innovation, so as she said regulation needs to shape the future, not to ‘freeze it’.
Citing the example of the tobacco and nicotine products industry, Ms. Ovumyan pointed out that JTI is investing billions on innovative new generation products that have a potential to reduce the risks associated with smoking. Stressing that it is critical that consumers have access to them, but also that companies are encouraged to invest to continuously to improve and upgrade them.
‘Regulatory frameworks need to be updated,’ concluded Ms Ovumyan, referring to the OECD's Flexible Regulation model, according to which rules need to evolve as science and technology evolve. ‘And therefore, in our industry, innovative nicotine products must be regulated in a way that incorporates scientific development.
