Asia-Pacific trade ministers mull pandemic, recovery

In this June 3, 2020, file photo, containers are loaded onto a ship for export at Lyttelton Port near Christchurch, New Zealand. (AP)
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Updated 05 June 2021
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Asia-Pacific trade ministers mull pandemic, recovery

  • The trade ministers attending Saturday’s meeting conferred with business leaders on Friday on ways to better manage the health and economic crisis brought on by the pandemic

BANGKOK: Trade ministers from the Pacific Rim were discussing ways to build back better from the pandemic in an online meeting Saturday hosted by New Zealand.

The Asia-Pacific Economic Cooperation forum has long focused on dismantling trade barriers. The meeting of its trade ministers was convened virtually, given the travel restrictions prevailing in the region as coronavirus outbreaks flare in many countries still struggling to obtain and deploy enough COVID-19 vaccines.

On the agenda was a statement on aiding the movement of essential goods needed to fight the pandemic, in line with global trade rules that have been strained in recent years, especially during the administration of President Donald Trump who favored striking trade deals with individual countries.

The trade ministers attending Saturday’s meeting conferred with business leaders on Friday on ways to better manage the health and economic crisis brought on by the pandemic.

“We must ensure that trade plays a role in combatting the worst, continuing effects of COVID-19 through open and unrestricted trade in vaccines, essential medical supplies and associated products,” said Rachel Taulelei, chair of the APEC Business Advisory Council.

In many countries in the Asia-Pacific region, the share of people vaccinated so far is in the low single digits. That includes places like Thailand and Taiwan that initially managed to avoid initial massive outbreaks but now are contending with their worst flare-ups.

APEC members Japan, South Korea and New Zealand are ranked among the worst among all developed nations in vaccinating their people for COVID-19, below many developing countries such as Brazil and India. Australia is also performing comparatively poorly.

This week, President Joe Biden announced the US will swiftly donate an initial allotment of 25 million doses of surplus vaccine overseas through the UN-backed COVAX program, promising infusions for Asia, South and Central America, Africa and others.

That would be a substantial and immediate boost to the lagging COVAX effort, which to date has shared just 76 million doses with needy countries.

While some countries at times have limited exports of vaccines, chemicals needed to make them or of protective equipment such as surgical masks, it’s unclear whether tariffs and other trade barriers have been the main problem since countries like Japan and New Zealand imposed onerous approval requirements that have slowed inoculations.

The average tariff on vaccines is a low 0.8 percent, according to the APEC Secretariat. But duties on some other products can be as high as 30 percent for some countries.

While the average tariff on vaccines is very low within APEC (only 0.8 percent), tariffs are much higher for several goods that are very important in the vaccine supply chain.


Saudi Arabia reports surge in patent filings amid innovation drive

Updated 55 min 4 sec ago
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Saudi Arabia reports surge in patent filings amid innovation drive

RIYADH: Saudi Arabia recorded a significant increase in the number of patent applications filed by individuals and national institutions during 2025, reflecting a growing awareness among innovators and national entities of the importance of protecting innovations and maximizing the value of intangible assets.

The Saudi Authority for Intellectual Property explained that patent applications filed by individuals witnessed substantial growth, rising from 2,007 submissions in 2024 to 3,942 in 2025, representing a growth rate of 96 percent. This indicates a broadening base of innovators and entrepreneurs, and a rising awareness of the importance of registering intellectual property rights, according to the Saudi Press Agency. 

The authority also indicated that the number of patent applications filed by national institutions increased from 408 in 2024 to 734 in 2025, representing an 80 percent growth. This reflects the increasing interest of national entities in protecting their innovations and transforming them into valuable economic assets.

The entity further noted that this growth contributed to raising the total number of patent applications filed in 2025 to 10,300, compared to 8,029 in 2024. It affirmed its continued efforts to develop the intellectual property system, streamline registration procedures, and support innovation, in line with the objectives of the Kingdom’s Vision 2030.

Saudi Arabia has made notable progress in the 2025 Global Intellectual Property Index, with its score rising by 17.5 percent, placing it among the fastest-improving economies out of the 55 countries evaluated.

According to the 13th edition of the index, published by the US Chamber of Commerce in April, the Kingdom now ranks 40th globally, a reflection of the substantial reforms driven by its Vision 2030 strategy. These reforms aim to enhance intellectual property protection, foster innovation, and support the growth of a knowledge-based economy.

Since 2019, Saudi Arabia’s overall score has increased from 36.6 percent to 53.7 percent in 2025, marking a cumulative improvement of over 40 percent in just six years. This progress stems from a comprehensive transformation of the nation’s IP ecosystem, including the strengthening of legal frameworks and enforcement mechanisms.

These developments highlight Saudi Arabia’s growing institutional capacity and ongoing regulatory modernization, led by the SAIP.