Exploring the Power of Intellectual Property in ASEAN’s Digital Economy

The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC 72) was hosted by the Vietnam National Office of Intellectual Property, with Mr. Xaysomphet Norasingh, Chairman of AWGIPC, emphasizing the importance of exploring the power of intellectual property in the digital economy.

Mr. Norasingh highlighted that while the digital economy presents unprecedented opportunities, it also poses challenges that require effective navigation through the utilization of intellectual property. He stressed that intellectual property is crucial to navigating the evolving global landscape and promoting inclusive growth and prosperity for everyone. By creating an environment conducive to innovation and entrepreneurship, ASEAN’s creative industries can be fully unlocked.

The ASEAN Action Program on Intellectual Property for the period 2016-2025 has been successful in implementing 81% of its initiatives and activities. The primary goal of ASEAN cooperation on intellectual property is to ensure adequate protection of intellectual property rights, promote innovation, technology transfer, and reinforce regional and global trade liberalization.

In recent years, ASEAN has focused on enhancing cooperation on intellectual property among member countries to transform the region into an innovative and competitive global player. The AWGIPC has played a vital role in implementing ASEAN Action Programs on intellectual property to achieve objectives outlined in the ASEAN Economic Community (AEC Blueprint).

Intellectual property plays a crucial role in socio-economic development, innovation activities, maintaining competitive advantage, and protecting consumer rights. Da Nang city in Vietnam has actively supported businesses in innovation, technology development, and intellectual property rights registration. The city aims to further enhance its intellectual property activities to contribute to socio-economic development.

The AWGIPC was established based on the Framework Agreement on Intellectual Property Cooperation among ASEAN countries to oversee and implement intellectual property cooperation activities within ASEAN. The focus of this meeting was discussing collaboration on intellectual property activities between ASEAN and various partners to advance intellectual property rights protection, innovation, and technology transfer within the region.

In conclusion, Mr. Norasingh reiterated that effective utilization of intellectual property is essential for navigating the challenges posed by the digital economy while taking advantage of its opportunities for inclusive growth and prosperity for all stakeholders involved in it.