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October 25, 2021
APEC 2018 News

Intellectual Property plays key role in Promoting Trade in APEC Region

Jana Zoriry – EMTV Online

 

Intellectual Property (IP) rights, including protection and enforcement is a key factor in promoting Foreign Trade and Investment as well as boosting Economic Development in the Asia Pacific Economic Cooperation (APEC) Region.

Director General of the Mexican Institute of Industrial Property, Miguel Margain, who is also the Chair of 47th APEC Intellectual Property Rights Experts’ Group (IPEG) made this statement at the opening of the IPEG Meeting.

Mr Margain alluded to Section 33 of the 24th Meeting of APEC Ministers Responsible for Trade (MRT) Statement made earlier on “Intellectual Property Rights” which APEC member economies were committed to foster cooperation in the area of IP rights, including protection and enforcement, as well as creative innovations in the digital economy.

“IP is recognised as a transversal topic that has links to many of the goals and achievements set by APEC member economies.

“IP Contributes to our regional economy, almost all industries rely on the adequate enforcement of their IP assets while consumers link IP rights to qualify and guarantee of products and services,” says Mr Margain.

Margain also encouraged Papua New Guineans to register their creations when going into business to protect their products, services and businesses with the Intellectual Property Office of PNG (IPOPNG) and prevent others from stealing their ideas.

IP refers to the creations of the mind such as literary and artistic works, designs, symbols names and images used in commerce, which is protected by law.

These include patents (inventions), copyrights and trademarks that enable their creators to earn recognition or financial benefit from what they create.

 

Source: APEC News Release

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