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November 20, 2015―The Judiciary of the Republic of Panama and the International Trademark Association (INTA) signed a Memorandum of Understanding (MOU) that sets forth a foundation for future cooperation between the two groups, and recognizes both the need for robust intellectual property (IP) systems in a rapidly changing and increasingly integrated global economy as well as the central role of Panama in international maritime trade.
Panama’s economy and infrastructure have driven its rapid rise in the areas of maritime trade and intellectual property protection.
Panama has one of the fastest growing economies in the world, to wit:
Panama’s Maritime Trade and Intellectual Property Protection
Both INTA and the Panamanian government appreciate the impact of the Panama Canal expansion on global trade and the global trademark community. Transshipment and transit of goods through free trade zones and free ports contribute significantly to the trafficking of counterfeit goods, and eighty percent of the goods passing through the canal are goods in transit. The MOU will serve to develop cooperative activities in the field of trademarks and other related areas. INTA and the Judiciary have already begun organizing judicial training seminars. Other areas of future cooperation include:
“Panama plays a critically important role in the global economy and international maritime trade and this will only increase with the expansion of the Panama Canal,” said INTA President J. Scott Evans. “At the same time, Panama’s economy and middle class are growing. The INTA looks forward to working with the Judiciary to enhance its effectiveness for brand owners and consumers in Panama and around the world.”
The INTA released this micro-documentary video to explain the impact of the Panama Canal expansion on brand owners and consumers around the world.
Source: The International Trademark Association
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