Japan and Australia sign trade deal
The Australian and Japanese governments have signed a trade agreement set to give Australian innovators better access to IP protection in Japan.
The Japan-Australia Economic Partnership Agreement was formally confirmed today, Tuesday, following months of negotiation.
Australian Prime Minister Tony Abbott and his Japanese counterpart Shinzo Abe formally ratified the agreement in the Australian capital Canberra.
Although primarily focusing on trade and the military, the agreement briefly mentions ways to improve IP protection.
In a statement outlining the partnership’s “key factors”, the Australian government department for foreign affairs and trade, said innovators and creative industries “will enjoy high levels of IP protection in Japan” that are broadly equivalent to protections provided in Australia.
“This historic agreement is good for the Australian economy, good for jobs, good for farmers and good for consumers,” Andrew Robb, minister for trade and investment, said in a statement.
The agreement will bring Australia's cooperation with Japan in line with agreements it already has with the US and the UK.
The full text of the agreement is set to be released this afternoon.
