The Office of the U.S. Trade Representative on Monday released the 2012 Special 301 Report reviewing the intellectual property protection policies of foreign nations. Saudi Arabia is not named on the “Watch List” again this year and has not been since a successful Out-of-Cycle Review in 2009 to resolve IP issues in cooperation with the USTR.
The 2012 Report lists 40 trading partners of the U.S. including thirteen countries which comprise the “Priority Watch List.” The USTR found these nations to have significant violations or weaknesses regarding intellectual property protection and enforcement in areas including copyright violations, internet piracy, and counterfeiting. The goal of the list is to encourage offending nations to work with the USTR and other U.S. government organizations to address these issues and increase global intellectual property awareness.
Saudi Arabia is committed to actively protect intellectual property rights and promote enforcement standards in line with the Kingdom’s ascension to the World Trade Organization in 2005 and the U.S.-Saudi Arabian Trade and Investment Framework Agreement signed in 2003. These standards foster increased trade and investment in the private sector and stronger ties between governments. A robust intellectual property protection environment is a strong incentive to attract foreign direct investment, and internationally recognized policies protect the interests of Saudi companies conducting business abroad. The Kingdom will continue to work in close cooperation with the USTR to uphold its commitments and adapt to evolving challenges facing global trade.
To read the full 2012 Special 301 Report from the USTR, click here.
