Developed countries join hands to fight piracy

Major industrialised countries announced plans on Tuesday for a new anti-counterfeiting pact as they seek to clamp down on money-spinning piracy in global trade.

BRUSSELS: Major industrialised countries announced plans on Tuesday for a new anti-counterfeiting pact as they seek to clamp down on money-spinning piracy in global trade. The European Union, the United States and Japan all announced separately that they wanted to negotiate an Anti-Counterfeiting Trade Agreement (ACTA). They indicated that Canada, South Korea, Mexico, New Zealand, and Switzerland were also on board.

“There has been communication between the EU and its partners and an expression of interest between various nations. We are all basically pulling on the same rope here,” European Commission spokesman Michael Jennings said.

The EU’s trade commissioner, Peter Mandelson, said a new international anti-counterfeiting treaty “will strengthen global cooperation and establish new international norms, helping to create a new global gold standard on intellectual property rights”.

“Today launches our joint efforts to confront counterfeiters and pirates across the global marketplace,” said US Trade Representative Susan Schwab.

And in Japan a foreign ministry official said current World Trade Organisation rules were insufficient to control the piracy.
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › International › Developed countries join hands to fight piracy
Text Size:AAA
Success
This article has been saved

*

+