Malta has signed the Anti-Counterfeiting Trade Agreement aimed at establishing international standards on enforcement of Intellectual Property (IP) rights, particularly in areas where IP theft is common, such as music, movies, pharmaceuticals and copyright infringement on the Internet. This agreement does not foresee the creation of new intellectual property rights but improved international standards on how to act on large-scale infringements of IPR.
The Agreement foresees the creation of an international legal framework, which countries may voluntarily adhere, and the setting up of a governing body which is distinct from institutions such as the World Intellectual Property Office (WIPO) and the World Trade Organisation (WTO).
In voicing its support to the Agreement, the EU has held that ACTA ensures the EU’s high standard of protection for intellectual property, protects jobs in Europe and will aid in the combating of trade of counterfeit items. The EU estimates that it is losing €8 billion annually through counterfeit goods entering its market.
The OECD estimates that infringements of IP traded internationally exceed more than $150 billion per year.
Current signatories alongside Malta are the EU and twenty-two other member states, Australia, Canada, Japan, South Korea, Morocco, New Zealand, Singapore and the United States.
