Governments
of eight nations including Singapore, Japan and the US on Saturday signed an
agreement which is aimed at fighting copyright and trademark theft.
The signing is a step towards bringing into
effect the Anti- Counterfeiting Trade Agreement (Acta), which is designed to
strengthen the legal framework for intellectual property rights, said Japan's
Ministry of Economy, Trade and Industry (Meti).
The signing comes a year after the final round
of negotiations among 11 parties--Australia, Canada, the European Union, Japan,
South Korea, Mexico, Morocco, New Zealand, Singapore, Switzerland and the
United States.
The EU, Mexico and Switzerland have not
signed; they have until May 1, 2013, to do so, according to Meti.
The agreement takes effect with the
ratification by six parties and Meti expects an expansion of Acta participants,
reported Reuters on Saturday.
China, the rest of Asia and other regions like
the Middle East have been said to be among the possible candidates.
Singapore was represented by Permanent
Secretary for Law Pang Kin Keong.
Singapore's Law Ministry said in a press
release that the key elements of Acta go beyond the standards set by the World
Trade Organisation's Agreement On Trade Related Aspects Of Intellectual
Property Rights.
The latest pact includes more robust border
measures to protect intellectual property rights, stronger civil and criminal
liability regimes, and additional provisions for copyright protection in the
digital environment.
"Singapore had entered Acta negotiations
on the premise that a robust IPR (intellectual property rights) regime
strengthens our economy and is essential to encourage innovation, creativity
and the growth of industry and commerce in Singapore," the ministry said.
In the US, film, music, software and other
copyright-based industries calculate losses of more than US$16 billion (S$21
billion) in sales each year from pirated versions sold around the world.
The News Desk
The Straits Times
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