Us Free Trade Agreement Singapore

Singapore FTA Text: The full text of the agreement. Intellectual property rights (IPR). (Chapter 16) According to the U.S. Trade Representative, the protection of copyright, patents, trademarks and trade secrets under the free trade agreement is more advanced than previous free trade agreements. The free trade agreement also improves the enforcement of intellectual property rights. Non-discrimination obligations apply to all types of intellectual property. The ESTV ensures the government`s participation in the resolution of disputes between trademarks and Internet domain names (important to prevent the cyber-squatting of domain names protected by trademark law). It also applies the “first-in-time, first-in-right” principle to brands and geographic indicators (toponymy) applied to products. This means that the first to file a trademark is granted the first right to use that name, expression or geographical name. In addition, the trademark application process is streamlined by allowing applicants to use their own national patent/brand offices to file trademark applications. Another problem with RRI is the licensing of patented drugs. EsTV strongly restricts Singapore to using compulsory licenses to copy patented medicines and creates new barriers to the importation of patented medicines sold at lower prices in third countries. These provisions can strengthen the protection of U.S.

drug companies in a way that has been expressly prohibited at the World Trade Organization by the Doha Declaration on Intellectual Property Rights and Public Health. (29) Some also argue that new restrictions on the licensing of compulsory patented medicines in Singapore could hamper the ability to use cheaper generic alternatives. However, representatives of the pharmaceutical industry welcomed the patent provisions of the agreement. (30) As far as investments are concerned, Singapore generally has an open investment system. At the end of 2002, Singapore`s stock of foreign direct investment in the United States (FDI) was $61.4 billion (on an historical basis). U.S. direct investment in Singapore focuses mainly on production (mainly in industrial machinery and equipment and electronics), finance and oil. (17) In 2002, Singapore had a net direct investment position in the United States of $2.9 billion — up from $3.5 billion in 2001. Most are in manufacturing, real estate, deposit institutes, and wholesale trade. (18) e-commerce and digital products. (Chapter 14) Singapore and the United States have agreed on e-commerce and Internet provisions that reflect the importance of the issue in world trade and the principle of preventing barriers to the use of e-commerce.