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There’s Nothing Mythical About World Trade Month
By Kelly Anderson (Cross-posted from IP Delivers)
Each year, countries around the globe celebrate World Trade Month in May. This year’s World Trade Month is particularly relevant as the U.S. negotiates major trade agreements to secure access to new markets and increase the competitiveness of U.S. businesses abroad.
Next week, government officials from 12 nations will meet in Vietnam to continue negotiations on the Trans-Pacific Partnership (TPP) agreement. While negotiators work to conclude the TPP, it is now more important than ever to emphasize the need for a strong, meaningful IP chapter in the agreement. The inclusion of robust IP policies will serve as a catalyst for innovation and economic growth in the countries negotiating the agreement.
Yet, while the TPP negotiations began back in 2011, many misconceptions still remain about the TPP’s IP chapter. In order to set the record straight, the GIPC created a list of 10 myths about the IP chapter of the TPP. For example, opponents of the agreement worry that a robust IP chapter in the TPP would stifle growth in the developing nations. However, IP laws in developing nations have been integral to a country’s economic growth and competitiveness. And that’s becoming increasingly evident: just look at Egypt. Or Singapore. Or Pakistan. Strengthening the IP protections in developing nations will both boost foreign direct investment and stimulate similar economic growth in the countries negotiating the agreement.
Interested in learning more about some of the other misconceptions? Check out the GIPC’s infographic debunking other myths about IP chapter of the TPP.