ASEAN promotes intellectual property cooperation towards a knowledge-based economy

With a 70% increase in patent applications and more than 50 “unicorns,” ASEAN and WIPO affirm that exploiting intellectual property is a catalyst for innovation, sustainable growth and deeper integration into the global economy.

On September 24, member countries of the Association of Southeast Asian Nations (ASEAN) reaffirmed their commitment to exploiting intellectual property for innovation, enhancing competitiveness and growth for the World Intellectual Property Organization (WIPO).

The commitment was made during a consultation between ASEAN economic ministers and WIPO leaders, chaired by Malaysian Minister of Investment, Trade and Industry Zafrul Abdul Aziz and WIPO Director General Daren Tang.

According to a VNA reporter in Kuala Lumpur (Malaysia), the meeting focused on enhancing cooperation and expanding initiatives within the framework of the partnership between the two sides.

ASEAN Secretary-General Kao Kim Hourn cited the region's significant progress in intellectual property development, saying patent applications have increased by 70 percent over the past decade, industrial design applications by 80 percent, and trademark applications by 110 percent.

Meanwhile, investment in research and development (R&D) increased fivefold to nearly $55 billion by 2023, thereby boosting high-tech exports worth $598 billion.

According to Secretary-General Kao Kim Hourn, ASEAN currently has more than 50 “unicorns,” which are private startups valued at over $1 billion, with total venture capital investment reaching $110 billion.

In addition, six ASEAN member states are among the top 55 in the WIPO Global Innovation Index 2024. These achievements confirm that intellectual property is driving ASEAN’s transformation into a high-value, innovation-driven economy.

The consultation also saw the launch of the ASEAN Geographical Indications (GI) Database, a new platform designed to strengthen origin-based branding, support local producers and showcase the region’s rich culture, complementing ongoing initiatives such as intellectual property management centres, valuation toolkits and the ASEAN Innovation Support Centre network.

The project aims to help micro, small and medium enterprises (MSMEs) access finance and accelerate innovation.

Minister Zafrul said the cooperation between ASEAN and WIPO plays a key role in promoting a more knowledge-based economy, especially as the region prepares the ASEAN Intellectual Property Rights Action Plan 2026–2030.

Mr. Zafrul emphasized ASEAN's common vision of harnessing the power of intellectual property as a "catalyst" for innovation, inclusiveness and sustainable growth./.

(TTXVN/Vietnam+)

Source: https://www.vietnamplus.vn/asean-day-manh-hop-tac-so-huu-tri-tue-huong-toi-nen-kinh-te-tri-thuc-post1063795.vnp