Exclusive | Hong Kong seeks inclusion in trademark treaty to boost IP economy, global reach Hong Kong has asked Beijing to include the city in an international trademark treaty as it makes a greater push into the intellectual property (IP) economy and expands into overseas markets amid geopolitical uncertainties, the commerce minister has told the Post. In a wide-ranging interview on Friday, Secretary for Commerce and Economic Development Algernon Yau Ying-wah said challenges in the global economy caused by US-China trade tensions and the war in Ukraine meant that both the Hong Kong and mainland China economies must transform and adapt. “The biggest challenge is there are many uncertainties, because the US and China trade negotiations are ongoing. Not until the time when everything is settled, [will] the case become clearer,” he said. “And then the war in Ukraine, whether that will be settled quickly, will bring some other implications to the global economy. There are areas facing different challenges, and it’s time for transformation of the economy, both in Hong Kong [and] in [mainland] China as well.” Yau said the city was seeking overseas opportunities from the 10 countries of Asean, the Gulf Arab states, Eastern Europe, Central Asia and Latin America, while being backed by the mainland’s robust economy. Following a trade visit to New Zealand and Australia earlier this month, Yau will next travel to Singapore on August 31. Yau also revealed that the administration was seeking Beijing’s endorsement for inclusion in the Madrid Protocol, the global standard for filing international trademarks, for its push into the lucrative IP economy, which already accounts for about 30 per cent of Hong Kong’s gross domestic product (GDP) and jobs. “We have to push,” Yau said. “That protocol has to be signed by a country, so it is signed by the motherland. So we are asking the motherland, asking Beijing to extend that coverage to Hong Kong.” The Madrid Protocol is an international system that simplifies the process of registering trademarks in multiple jurisdictions. A single application provides protection across up to 131 member countries, including many of Hong Kong’s major trading partners such as the United States, Japan and the European Union. “The Madrid protocol is very advantageous, because once you register your IP in Hong Kong, then you don’t have to worry about your IP protection in other economies or other countries,” Yau said. He added that including Hong Kong in the protocol would “take a bit of time” and the city would have to educate more people about “the importance of IP” and develop their expertise in areas such as copyright law, trademark registration, and IP certification. Official statistics in December 2023 showed that “intellectual property-intensive industries” contributed an average of 32.7 per cent of Hong Kong’s GDP and 29.1 per cent of total employment between 2019 and 2021. Joining the international protocol will allow the city to save time and resources in registering trademarks for films, songs, and other entities in pop culture and the arts. Hong Kong’s IP economy has experienced a recent boom, with fans queuing for hours for merchandise or events featuring characters such as the city’s giant pandas, Labubu and Japanese manga Chiikawa, alongside a robust arts trading scene. Returning to the difficulties posed by US-China trade tensions and the city’s economic challenges, Yau stressed that businesses had to adapt as Hong Kong pushed to transform its economy. He said the city’s unique advantages under the “one country, two systems” framework, such as its common law system and international opportunities, positioned it as an ideal partner for mainland enterprises looking to expand overseas. He suggested that more mainland firms could set up regional offices in Hong Kong to conduct their business overseas, leveraging the city’s expertise in international law, taxation, capital flow and IPO opportunities. Hong Kong could also ride on mainland companies’ expertise and progress for joint efforts on manufacturing and research and development, especially using the Northern Metropolis as an opportunity, Yau added. https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3322991/hong-kong-seeks-inclusion-trademark-treaty-boost-ip-economy-global-reach (ICE HONG KONG)

Fonte notizia: South China Morning Post