Switzerland And Vietnam Sign Agreements On IP, Banking

by Ulrika Lomas, for LawAndTax-News.com, Brussels

19 July 2007

It emerged this week that the Swiss and Vietnamese authorities have signed agreements on intellectual property protection, banking, and strengthening competition.

According to reports the agreements, which were signed on the Swiss side by Economics Minister, Doris Leuthard, will cost the Swiss authorities an estimated SFr9 million.

With regard to intellectual property rights, the two countries have agreed to conduct a joint programme between 2007 and 2010, which will involve the Swiss authorities assisting their Vietnamese counterparts in drafting and applying WTO-compatible legislation in this area.

Aid of more than SFr1 million will be provided for the project, which is the second phase of an initiative between the Vietnam Intellectual Property Department and the Swiss Federal Institute of Intellectual Property.

Leuthard was quoted by the Vietnamese national media as explaining that:

"All these projects will help the Swiss economy open doors later."

With regard to banking, the Swiss Economy Minister signed an agreement pledging nearly SFr 6 million to assist in modernising and reforming the Vietnamese Central Bank, and improving training.

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