Minister of Industry, Trade, and Labor Ehud Olmert has asked the US administration to expand and upgrade the Israel-US free trade agreement, in order to preserve priorities given to Israeli exports. The US is currently signing free trade agreements with Australia, Morocco, and Central American countries. Olmert made the request in meetings during his meetings in Washington this week.
At their meeting, Olmert, Minister of Justice Joseph (Tomy) Lapid, and US Trade Representative Robert Zoellick discussed US demands for stricter rules to preserve intellectual property in the pharmaceutical and music industries. The Israeli Ministry of Justice is formulating a new bill for the music industry.
Olmert said today that the US had welcomed his decision to endorse the report by the ministerial committee, which recommended five-year protection of information. The US, however, still disputes a number of points. It was agreed at the meeting that professional representatives of the two sides would continue studying the recommendations in order to find a solution acceptable to all.
The professional discussion will be in the framework of joint trade committee discussions scheduled for July in Washington.
The dispute over intellectual property is a result of the demand by international drug companies, mostly from the US, concerning the ethical drug files they submit to the Ministry of Health for purposes of obtaining authorization to market their drugs. The companies are demanding protection, referred to as data exclusivity, for these files.
Published by Globes [online] - www.globes.co.il - on May 20, 2004