U.S. Chamber Welcomes APEC Innovation Principles

Thursday, November 10, 2011 - 7:00pm

Overby Cites Importance of Market-Driven Innovation, Effective Implementation

WASHINGTON, D.C.—U.S. Chamber Vice President for Asia Tami Overby released the following statement welcoming the agreement by the Asia-Pacific Economic Cooperation (APEC) leaders to a set of important innovation principles, entitled “Promoting Effective, Non-Discriminatory, and Market-Driven Innovation Policy” in Honolulu:

“The U.S. Chamber of Commerce applauds the innovation principles agreed by APEC governments in Honolulu. These principles build on the 2006 Pathfinder on the APEC Technology Choice Principles signed in Vietnam and reinforce the pre-eminence of market-based approaches to innovation and open trade and investment regimes.

“Promoting effective, non-discriminatory, and market-driven innovation policies has long been a priority for the U.S. business community. We congratulate the Office of the U.S. Trade Representative for securing support from the 21 APEC economies for these principles, which, if implemented effectively, could represent a breakthrough for U.S. innovative industries active in the Asia-Pacific region.

“Among the most important parts of the principles are new commitments to provide effective protection and enforcement of intellectual property rights and to reject measures that make the location of the development or ownership of intellectual property a condition for eligibility for government procurement preferences. We also applaud the commitments to promote open investment and ensure that the conditions of transfer of technology, production processes, and proprietary information are voluntary and left to the agreement between individual enterprises.

“At the end of the day, ensuring effective implementation of these principles will be of paramount importance. The Chamber will work with our members to benchmark progress throughout the region on these important issues to ensure the APEC governments are living up to these important principles. It is critical for all governments to ensure that measuring progress against these principles is a top focus at next year’s APEC meetings hosted by Russia.”

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.