August 22, 2023
PHNOM PENH – ASEAN and the World Intellectual Property Organisation (WIPO) on August 20 signed a memorandum of understanding (MOU) to expand cooperation in supporting the region’s creative industries.
The MoU, signed by ASEAN secretary-general Kao Kim Hourn and WIPO director-general Daren Tang, was witnessed by the ASEAN economic ministers.
The signing took place during the ASEAN-WIPO interface meeting, held on the sidelines of the 55th ASEAN Economic Ministers’ meeting (AEM) in the Indonesian port city of Semarang.
The agreement aims to expand cooperation in four specific areas.
It is expected to support micro, small and medium enterprises (MSMEs) and start-ups in their use of intellectual property (IP) in intra-regional trade, while also leveraging digital technologies for business success. In addition, it aims to unlock the use of intellectual property and intangible assets to secure monetisation, and will finance and support the bloc’s creative industries.
Kim Hourn underscored the importance of IP development to the ASEAN economic community.
“IP is the epicenter of ASEAN efforts to cultivate a competitive and innovative region that thrives on an inclusive economic growth, social advancement and enduring prosperity,” he said.
An August 20 statement from the ASEAN secretariat noted that for decades, the bloc has steadfastly reinforced IP cooperation to stimulate innovation, value creation and enhance the competitive advantage of products and services in regional and global markets.
It claimed that ASEAN member states are improving year-on-year on the Global Innovation Index.
“In 2022, out of 132 countries ranked, one ASEAN member was ranked Top 10, three were in the top 50, and four in the top 100. Economic hubs such as Singapore, Kuala Lumpur and Bangkok were highlighted as cities with a high density of inventors and scientific authors.
“In terms of IP value from an intangible asset perspective, data from the GII placed ASEAN’s leading brands at over $250 billion, a strong indication of the surging ASEAN’s IP significance for all stakeholders, including businesses, investors, innovators and creators,” said the release.
Since the signing of the first ASEAN IP framework agreement in 1995, WIPO has been among the bloc’s closest partners.
The partnership has been instrumental in delivering capacity building and catalysing digital transformation.
“As a result, most members’ IP regimes are now integrated into WIPO’s patent, trademark and design international registration systems,” said the statement.
Kim Hourn said the signing of the MoU ushers in a “whole new chapter of robust collaboration and partnership between ASEAN and WIPO in a new era constantly reshaped by digital technologies, sustainability and inclusivity”.
He claimed that the MoU reflects WIPO-ASEAN commitment to actions that will benefit ASEAN’s entrepreneurs, SMEs, innovators and creators in the coming years.