The Thai authorities on Wednesday burned over 600,000 items violating intellectual property rights following Thailands court rulings concerning intellectual property right violation cases.The collaboration for burning the 613,374 items was between the Intellectual Property Department, the Commerce Ministry, the Royal Thai Police and related private sector organisations.
After presiding over the ceremony, Deputy Commerce Minister Alongkorn Ponlaboot said it is the third instance this year of destroying all counterfeit goods, weighing around 90 tonnes in total, with a value accounting to Bt2.2 billion. Among all burnt items, 129,270 pieces were seized by the Economic and Cyber Crime Police Division ECD Police, 40,803 by the Metropolitan Police Bureau, 91,659 by varied Provincial Police Regions, 202,621 by the Thai Customs Department, and 149,021 items from the Special Investigation Department DSI
The waste of some energy and minerals can be recycled and reused, while non-recyclable waste will be further destroyed with an appropriate method.The deputy commerce minister said the government continues to give serious importance to cracking down and preventing violations of intellectual property rights. Stricter measures to deal with the matter were launched for higher efficiency results.He added the government was confident that the United States will review Thailands status, moving it from being a country on the US governments Priority Watch List PWL to being a country on its Watch List WL.
Disappointed over an unchanged and an improvement from Washington’s Priority Watch List (PWL), announced recently by the US Trade Representative (USTR), the Commerce Ministry will ask the Royal Thai Police Bureau to more strictly enforcing and suppressing violations of US intellectual property rights in the kingdom, said Deputy Commerce Minister Alongkorn Ponlaboot.
The USTR in its report released on April 30, maintained Thailand on its PWL for 2010 which has been unchanged since 2007 but Mr Alongkorn said an OCR (Out-of-Cycle Review) on Thailand’s status could be conducted within the next six months.
Saying that he was disappointed over the ranking, Mr Alongkorn reiterated that the Thai government has attached importance on intellectual property rights protection and has continuously suppress violators in the past, the government, therefore, plans to write a letter to USTR and enquire about the country’s status which was kept unchanged for 2010.
Clear skies over Asia’s new foreign investment landscape?
Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.(more…)
How higher US bond yields will impact Asia Pacific bonds
As financial markets started pricing in stronger US economic growth and inflation because of Joe Biden’s stimulus plan, US bond yields have risen, causing ripple effects across the world, including in APAC.
Following the rise in US bond yields in response to Joe Biden’s stimulus plan and amid higher inflation in some economies, Asia Pacific bond yields have risen significantly as well, especially in Southeast Asia, India, Hong Kong, and Australia. However, Northeast Asian bond yields have risen little.(more…)
Subscribe via Email
Thai Government Plans to Increase 2022 Investment Budget by 90 Billion baht ($2.84 bln)
According to the 2022 fiscal budget bill, which has public spending set at 3.1 trillion baht, accounting for 17.9% of...
Fitch Affirms Thailand’s rating at ‘BBB+’ with a Stable Outlook
Fitch forecasts Thailand's tourism-dependent economy will recover only modestly, by 1.8% in 2021 after a sharp 6.1% contraction in 2020.
One-stop SME information portal connecting ASEAN businesses and beyond
The ASEAN Access is a flagship initiative of the ACCMSME, spearheaded by the OSMEP, Thailand and supported by the Federal...
Novo Nordisk certified as one of the Best Places to Work in Thailand
Novo Nordisk Thailand certified as one of the Best Places to Work. An exclusive interview with John Dawber, Vice President...
ASEAN and EU conclude the world’s first bloc-to-bloc Air Transport Agreement
The AE CATA is the world’s first bloc-to-bloc air transport agreement and will bolster connectivity and economic development among the...