Intellectual Property Protection Will Be on G8 Agenda

During the meeting, Putin said he supported the views of global business on these issues and that he would ensure they are discussed during the G8 Summit.

In respect of Counterfeiting and piracy, the ICC stressed that the global epidemic of product counterfeiting and copyright piracy poses an ever-widening threat to economic and social welfare. It is an illegal and often dangerous activity which touches virtually all sectors and costs the global economy approximately $650 billion annually.

Putin agreed that trade of counterfeit goods is a serious problem in Russia and other countries and said he would convey its urgent importance to the leaders of the G8. Russia has regularly been criticized for tolerating the production of counterfeit goods.

"We are ready to take the most active part in this discussion and come up with general decisions and measures to ensure that the decisions taken are executed," Putin said.

He also pledged to work closely with ICC Russia on improving the protection of intellectual property rights (IPRs) in Russia.

ICC's statement made explicit recommendations on how governments can fight counterfeiting and piracy, by "gathering more accurate data on the extent of the problem, orchestrating campaigns to raise public awareness of the damage it does, improving cross-border cooperation and training of national enforcement agencies and exchanging information on best practice."

News source: ag-ip-news.com