Added by Gary Dunn on October 7, 2010
The international pact which empowers the fight against counterfeiting has had its final draft agreed upon by the United States, the EU, Australia, Canada, Japan, New Zealand, Singapore, South Korea, Morocco and Mexico. China, which is the biggest source of counterfeit goods, did not attend the talks.
The Organization for Economic Cooperation and Development revealed the fact that counterfeiting and pirated goods turnover rose to roughly $250 billion in 2007 from $100 billion in 2000.
ACTA will allow customs officials in the participating countries to act and seize goods without request from the rights holder or a court order.
“The text reflects tremendous progress in the fight against counterfeiting and piracy — a global crime wave that robs workers in the United States and around the world of good-paying jobs and exposes consumers to dangerous products” said Ron Kirk.
The U.S. Trade Representative, Ron Kirk urged the 40 attending countries to finalize the Anti-Counterfeiting Trade Agreement (ACTA), after the talks reached a culminating point in Tokyo, last week.
Digital rights and public health advocates have also observed the talks due to the fact that the rights of Internet users might be infringed or trade of generic versions of life-saving medicines might be put in danger.