EU-US anti-piracy and anti-counterfeiting agreement

The United States and the European Union have agreed to join forces to counteract the growing trade of fake goods which, according to EU Trade Commissioner Peter Mandelson, could now be worth at least 360 billion euros.

Brussels and Washington will set up 'a concentrated and comprehensive cooperation process' to protect intellectual property rights, share information and plan joint actions. 'We will send a message to the rest of the world: we are heading toward zero tolerance with regard to the theft of intellectual property', Mandelson told reporters.

'The problem is that the global trade of counterfeit goods is now equivalent to the entire transatlantic trading total. Others must change their attitude, change the application of laws'.

(Source: Reuters)