Singapore companies in Australia to enjoy broader protection of IP rights
Amendments were made to the Singapore-Australia Free Trade Agreement following its 2nd review.
According to Singapore’s Ministry of Trade and Industry, the two countries have completed the 2nd review of the agreement with amendments to ensure that SAFTA remains relevant and beneficial to businesses.
The key updates are as follows:
Chapter 8: Investment Article 5 (Prohibition of Performance Requirements) - Both Singapore and Australia have committed to ensuring that investors will not be imposed with any requirements or commitments on minimum performance levels in its territory, including restrictions on the volume, value or sales level goods or services, achieving a given level of domestic content, or transfer of technology or propriety knowledge. The corresponding Annexes 4-I(A) and 4-II(A) and Annexes 4-I(B) and 4-II(B) have been updated to reflect Australia’s and Singapore’s respective reservations to Article 5 (Prohibition of Performance Requirements). Reservations are the specific measures, sectors, sub-sectors or activities in which Article 5 does not apply to. Chapter 13 : Intellectual Property - Article 4 (Term of Protection for Copyright) The new Articles will provide investors with greater clarity on the specific IP Rights accorded to their property and assets. For example, Article 5 introduces measures to protect against the wilful removal or alteration of rights management information for the purpose of facilitation or concealment of an infringement of any copyright. Article 9 and Article 11 further spells out the civil enforcement and criminal procedures and remedies available to investors who have been subjected to IPR infringement. Annex 3A: List Of Entities For Australia under Chapter 6 (Government Procurement) |
SAFTA is a comprehensive Agreement covering the trade in goods and trade in services such as telecommunication and financial services, movement of business persons, government procurement, intellectual property rights, competition policy, e-commerce and education cooperation.