EU toys with anti-piracy deal

Pact to protect developers of new products and stop the spread of fake goods.
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The European Union executive has suggested Europe should strike an anti-piracy pact with the United States, Japan and Korea to help stop counterfeit goods making the market.

The suggestion comes after The Organization for Economic Cooperation and Development estimated international trade in fake consumer goods is worth at least $200 billion or ?141 billion every year or two per cent of world trade.

The EU executive believes the pact would set out new regulations for protecting intellectual property rights and guarantee revenue for the developers of new products.

The US, Japan and Switzerland have agreed to take part in talks but the EU executive need to win over the 27 EU governments before it can begin discussions with trading partners.

A deal with other major patent creators like the United States would help the EU keep up with the huge spread of counterfeit goods and intellectual property theft.

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