EU promotes intellectual property rights in Southeast Asia
The European Union (EU) has announced a project to enhance intellectual and industrial property rights in all member countries of the Association of Southeast Asian Nations (ASEAN).
Hanoi (VNA) - The EuropeanUnion (EU) has announced a project to enhance intellectual and industrialproperty rights in all member countries of the Association of Southeast AsianNations (ASEAN). Theproject will include two platforms, IP Key Southeast Asia (IP Key SEA) andARISE Plus, which are both part of EU policies in the field of intellectual andindustrial property, said Luis Berenguer, spokesman for the EuropeanIntellectual Property Office (EUIPO). IP KeySEA focuses on the business world, while ARISE Plus concentrates on aspectsrelated to development and cooperation, Berenguer said. The spokesman also stressed the importance of creating afriendly environment for the protection of intellectual and industrialproperty of European and also regional companies. The mainobjective is to foster knowledge in the field of industrial property, he said,adding that the EU will work together with ASEAN countries to create tools,technologies and technical support to protect and encourage businessinnovation and creativity. Berenguerbelieves that intellectual and industrial property goes together withinnovation and economic growth, this is the case in the EU, where sectorsrelated to intellectual and industrial property rights account for 42 percentof GDP, 38 percent of employment and 90 percent of exports.
However,the EU loses 90 billion EUR and 800,000 jobs every year because of counterfeitproducts such as jewellery, handbags, watches, toys and pesticides.
♎ The IP Key SEA initiative will have a budget of 7 million EURover the next four years, and ARISE Plus will receive 5.5 million EUR over afive-year period.
The EU isthe main foreign investor in ASEAN with an annual investment of 19 billion EUR.The bloc is also the ASEAN’s third biggest trade partner after China and theUS, with a trade exchange of more than 246 billion EUR. The ASEANincludes 10 members, namely Burma, Brunei, Cambodia, the Philippines,Indonesia, Laos, Malaysia, Singapore, Thailand and Vietnam.-VNA
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Illustrative image (Source: VNA) 
