2 June 2012
The international community will attempt to draft an arms trade treaty to regulate the global weapons market during a conference in July at UN headquarters in New York.
Oxfam said the illegal trade reinforced the case for "robust" and legally binding laws on the sale and transfer of arms.
Oxfam's report, "The Devil is in the Detail" says that the global trade in consumer goods such as bananas, coffee and cocoa is more tightly regulated than the arms trade.
"The challenge is to ensure the new treaty is really strong. It must unambiguously stop arms transfers where they would fuel conflict, poverty or human rights abuses," said Oxfam arms control campaigner Anna Macdonald.
"Existing arms embargoes are far too easy to break or ignore. The lack of international regulation means that states under embargo have been importing whatever weapons they choose with impunity."
Visit the Oxfam website to sign the petition supporting a treaty to control arms.