Vietnamese businesses were updated with important commitments on Intellectual Property under the Vietnam - European Free Trade Agreement (EVFTA), as part of a seminar held in Hanoi on August 27.

The event was held jointly by the Ministry of Industry and Trade (MOIT) and the Ministry of Science and Technology (MOST) under the co-chair of Minister of Industry and Trade Tran Tuan Anh and Minister of Science and Technology Chu Ngoc Anh.

Minister of Industry and Trade Tran Tuan Anh

The conference is part of a series of events on the EVFTA popularisation before the agreement is to be adopted by the Government. It provided information and knowledge to local management agencies and the Vietnamese business community, in preparation for the effective approval and enforcement of the EVFTA in the near future.

Signed in Hanoi on June 30, 2019. the EVFTA is considered one of the largest free trade agreements that Vietnam has ever participated in, contributing to strengthening bilateral trade relations between Vietnam and the EU in a comprehensive, sustainable and strategic direction.

Speaking at the conference, Minister Tran Tuan Anh emphasised that, with a high level of commitment in the field of intellectual property, it is expected that the EVFTA would create significant challenges to the domestic legal reform. In the context of the limited perception on intellectual property rights in Vietnam, while the country is increasingly deeply integrated to the world, increasing the public and businesses’ awareness on EVFTA;s commitment in this area is essential, he stressed.

The EVFTA Conference

Minister Chu Ngoc Anh said that the MOST has actively implemented tasks to fully implement Vietnam's commitments in EVFTA related to intellectual property and technical barriers to trade. It is finalising the proposal to develop a law to amend the Intellectual Property Law, while completing the necessary procedures for joining the Hague Agreement governs the international registration of industrial designs, which is one of Vietnam's commitments within two years after the entry into force of the EVFTA.

At the conference, participants heard an overview of the EVFTA, strategic benefits and the process of ratifying the agreement, the introduction of intellectual property commitments in the EVFTA and opportunities and challenges for Vietnam, as well as implementing EVFTA and anti-counterfeiting goods.