8 September 1995

SIGNING OF MEMORANDUM OF UNDERSTANDING ON COOPERATION ON INTELLECTUAL PROPERTY WITH VIETNAM

Welcoming Vietnam's interest in the establishment of closer ties with Australia in the field of intellectual property, Senator McMullan said that intellectual property rights were an important element for business in any foreign investment decision.

"Bilateral trade has increased tenfold since 1991, reaching $450 million in 1994-95," Senator McMullan said.

"And there has been significant growth in the trade of goods and services which often have an intellectual property component."

Senator McMullan said that Australia welcomes Vietnam's application for accession to the World Trade Organisation which involves signing on to the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).

The MOU will facilitate cooperation between Australia and Vietnam on matters relating to intellectual property including exchange of information, and exchange of personnel such as customs officials, police officials, attorneys, judges, and representatives of the private sector of both countries.

Other activities covered include technical missions, workshops, seminars and training programs, promotion of the development of human resources, and cooperation relating to the implementation of TRIPS. The Vietnamese National Office of Industrial Property and the Australian Industrial Property Organisation will be responsible for implementing the MOU.

During discussions between officials in Vietnam in July this year, Vietnam indicated that its priorities for cooperation with Australia lie in strengthening Vietnam's copyright regime, the automation of patents and trademarks processing, and in preparations for the implementation of the Uruguay Round TRIPS Agreement.

Funding of individual projects under the MOU will be considered by AusAID on a case-by-case basis.

Further information: John Flannery, (06) 277 7420