Press Release

Intellectual property plays key role in promoting trade in APEC region

12/08/2018

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.

Products produced locally with their own brand names.

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 the Chair of 47thAPEC Intellectual Property Rights Experts’ Group (IPEG) made this statement at the opening of the last meeting for the group for 2018, currently on at the International Convention Centre, in Port Moresby.

Mr Margain alluded to Section 33 of the 24th Meeting of APEC Ministers Responsible for Trade (MRT) Statement made earlier this year on “Intellectual Property Rights” that 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,” he said.

“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.”

The MRT statement also supports further capacity building, across APEC border enforcement against trade mark infringing goods and adoption of IP policies and programs that cultivate, foster, support and advance innovation and creativity, including for MSMEs.

“APEC has launchedinitiatives that help stimulate MSME development in the region,” he said.

“TheSMEs Enterprise Working Group, through various projects, has been promoting the development and commericalisation of MSMEs and their IP assets.”

On-going APEC funded and self-funded projects include the Intellectual Property Commercialisation for SMEs, Best Practices on Patent Commercialisation for Independent Inventors and Workshop on Promoting Best Practises in Licensing for SMEs in Creative Industries amongst others.

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.

Many Papua New Guineans do not know their IP rights and are encouraged when going into business to use trademarks, copyrights and patents or inventions not only to assist in the economic development of the Papua New Guinea but register these creations as well to protect their products, services and businesses with the Intellectual Property Office of PNG (IPOPNG) and prevent someone else stealing their ideas.

IPOPNG is a division of the Investment Promotion Authority which represents PNG in the World Intellectual Property Organisation (WTO).