European Commission steps up protection of European intellectual property in global markets

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The European Commission published today the latest report on protection and enforcement of Intellectual Property Rights (IPR) in third countries. While developments have taken place since the publication of the previous report, concerns persist and a number of areas for improvement and action remain to be addressed. Intellectual property rights infringements worldwide cost European firms billions of euros in lost revenue and put thousands of jobs at risk. Today’s report identifies three groups of countries on which the EU will focus its action.

Commissioner for Trade Phil Hogan said: “Protecting intellectual property such as trademarks, patents, or geographical indications is critical for the EU’s economic growth and our ability to encourage innovation and stay competitive globally. As much as 82% of all EU exports is generated by sectors which depend on intellectual property. Infringements of intellectual property, including forced technology transfer, intellectual property theft, counterfeiting and piracy threaten hundreds of thousands of jobs in the EU every year.  The information gathered in the report will enable us to become even more efficient in protecting EU firms and workers against intellectual property infringements like counterfeiting or copyright piracy.”

The geographical and thematic priorities for the EU action to protect intellectual property rights are based on the level of economic harm to EU companies. The report will help to further focus and target efforts. The updated list of priority countries in the report remains split in three categories reflecting the scale and persistence of problems: 1) China; 2) India, Indonesia, Russia, Turkey, Ukraine; 3) Argentina, Brazil, Ecuador, Malaysia, Nigeria, Saudi Arabia and Thailand. Continue reading “European Commission steps up protection of European intellectual property in global markets”

Commission presents first reflections on building a strong social Europe for just transitions

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The Commission today presents a Communication on building a strong social Europe for just transitions. It sets out how social policy will help deliver on the challenges and opportunities of today, proposing action at EU level for the months to come, and seeking feedback on further action at all levels in the area of employment and social rights. Already today the Commission launches the first phase consultation with social partners – businesses and trade unions – on the issue of fair minimum wages for workers in the EU.

Valdis Dombrovskis, Executive Vice-President for an Economy that Works for People, said: “Europe is going through a momentous shift. As we go through the green and digital transformation, as well as an ageing population, the Commission wants to ensure that people remain centre stage and that the economy works for them. We already have an instrument, the European Pillar of Social Rights. Now we want to ensure that the EU and its Member States, as well as stakeholders, are committed to its implementation.

Nicolas Schmit, Commissioner for Jobs and Social Rights, said: “The working lives of millions of Europeans will change in the coming years. We need to take action to allow the future workforce to flourish. Europe’s innovative and inclusive social market economy must be about people: providing them with quality jobs that pay an adequate wage. No Member State, no region, no person can be left behind. We must continue to strive for the highest of standards in labour markets, so that all Europeans can live their lives with dignity and ambition.

Europe today is a unique place where prosperity, fairness and a sustainable future are equally important goals. In Europe, we have some of the highest standards of living, best working conditions and most effective social protection in the world.That said, Europeans face a number of changes such as the move to a climate-neutral economy, digitalisation and demographic shifts. These changes will present the workforce with new challenges and opportunities. The European Green Deal – our new growth strategy – must ensure that Europe remains the home of the world’s most advanced welfare systems and is a vibrant hub of innovation and competitive entrepreneurship. Continue reading “Commission presents first reflections on building a strong social Europe for just transitions”

Capital Markets Union and Fintech : political agreement to boost crowdfunding in the EU

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The European Commission welcomes the provisional political agreement reached yesterday evening between the European Parliament and the Council on its proposal to boost Crowdfunding in the EU.

The proposal, a key building block of the Capital Markets Union, aims to harness the opportunities presented by emerging technology-enabled innovations in the financial sector, known as FinTech. With this agreement, 12 out of 13 Capital Markets Union legislative proposals have been adopted or agreed at EU level.

Valdis Dombrovskis, Executive Vice-President for an Economy that Works for People said: “I welcome the agreement reached on our crowdfunding proposal. This is an important source of alternative financing for many innovative European entrepreneurs and start-ups, which may struggle to access traditional financing channels. An EU crowdfunding licence would help crowdfunding platforms scale up in Europe. This will allow investors to match up with companies from all over the EU, bringing more opportunities for firms and entrepreneurs to pitch their ideas to a wider base of investors.” Continue reading “Capital Markets Union and Fintech : political agreement to boost crowdfunding in the EU”