The Regional Comprehensive Economic Partnership (RCEP) has come into full force for 15 signatories

　　On June 2, 2023, the Regional Comprehensive Economic Partnership (RCEP) officially entered into force for the Philippines, marking the full entry into force of RCEP for 10 ASEAN countries and 15 signatories including Australia, China, Japan, the Republic of Korea and New Zealand。

　　The full entry into force of the RCEP fully demonstrates the determination and actions of the 15 parties to support an open, free, fair, inclusive and rules-based multilateral trading system，It will inject strong impetus into regional economic integration，We will comprehensively enhance trade and investment liberalization and facilitation in East Asia，To contribute to the long-term and stable development of the regional and global economy。

　　China will continue to promote the high-quality implementation of the RCEP, provide guidance and services for local governments, industries and enterprises to further implement and make good use of the RCEP, promote the continuous release of the benefits of the agreement, and give full play to the positive role of the RCEP in promoting cooperation in industrial chain and supply chain, promoting high-level opening-up and high-quality development。At the same time, we will work with other parties to fulfill our obligations under the RCEP agreement, continuously strengthen the institutional building of the RCEP, raise the overall level of implementation of the RCEP agreement, and provide a strong guarantee for the steady and long-term development of the RCEP cooperation。

　　(Source: Ministry of Commerce)

　　Saudi Arabia will introduce a new investment law to protect the rights of foreign investors

　　Saudi Arabia's investment ministry is drafting a new investment law under which the rights of foreign investors will be protected and local and foreign investors will be treated equally, Arab News reported on April 7。

　　The law will come into effect after a review。The ministry is working to promote procedures for attracting and protecting direct investment, optimize the investment environment, safeguard the legal rights of investors and improve confidence in the investment market。Foreign investors will be free to manage, sell and dispose of their property and projects, to enter into commercial contracts, to acquire, liquidate or sell any company, to protect intellectual property, confidential business information and personal data, to simplify the application process and to receive the necessary official support and assistance。The law also establishes requirements for the transfer of funds inside and outside the country, including the transfer of proceeds and profits from economic projects。Anyone who violates the law or its enforcement regulations will be fined 500,000 rials and given an opportunity to correct the violation。If it is not corrected, the investor's license will be revoked。The draft law prohibits the expropriation of direct investments in whole or in part, except by a court decision, nor does it permit the expropriation of direct investments in whole or in part, except in the public interest and in obtaining fair compensation。

　　(Source: Ministry of Commerce website)

　　New EU rules on intellectual property came into force on June 1

　　The European Commission has proposed a new EU intellectual property regulation to help companies, especially small and medium-sized enterprises (SMEs), make the most of their inventions and new technologies, contributing to the EU's competitiveness and technological sovereignty。

　　The new rules, which include standard essential patents, compulsory patent licensing in the event of a crisis and amendments to supplementary protection certificates, will aim to create a more transparent, efficient and future-oriented intellectual property framework, complement the EU's existing Unitary patent system and come into force on 1 June。

　　Based on the existing terms and principles of international and EU intellectual property law, the new regulations and the harmonised patent system will make the patent system more efficient by further removing fragmentation in the single market, reducing red tape and improving efficiency。This framework will empower the economy and relevant sectors to better protect innovation while ensuring equitable access (in emergencies)。

　　Key areas covered by the new patent rules are:

　　Standard Essential Patents (SEPs) : The proposed SEP licensing framework aims to create a balanced system that sets global benchmarks for SEP transparency, conflict reduction, and effective negotiation。

　　The main objectives include: ensuring that owners and implementors of EU standard-essential patents innovate in the EU, manufacture and sell their products in the EU, and be competitive in the global market;Ensure that end users, including smes and consumers, benefit from products based on the latest standardised technologies at fair and reasonable prices。

　　Compulsory licensing: An EU-wide compulsory licensing policy to complement the EU's policy tools in crisis situations, such as the Single Market Emergency Instrument, the HERA Regulation and the Chip Act。

　　(3) Supplementary Protection Certificate (SPC) [1] : A single SPC was introduced to complement the unitary patent。The SPC reform also introduces a centralised examination procedure, implemented by the European Union Intellectual Property Office (EUIPO) in close cooperation with EU National Intellectual property Offices, whereby an application will be subject to a single examination procedure and, if passed, a national special protection certificate will be issued for each Member State named in the application。

　　(4) The EU SME Fund in 2023: for the first time, concessions relating to European patents and new plant varieties will be provided。These new services will enable smes to save up to €1,500 in patent registration fees and €225 in the registration of new varieties of plants per application。

　　[1] Extension of the patent period (up to five years) for medicinal products for human or veterinary use or plant protection products that have been authorized by regulatory authorities。

　　(Source: Intellectual Property Information, Chinese Academy of Sciences, compiled by Zhao Yinghui)

　　The UK UKCA mark will replace the European CE mark in England and other places

　　The UKCA mark will replace the European CE mark for regulated products in England, Scotland and Wales and will become mandatory from 1 July 2025。

　　Manufacturers wishing to place their products on the European and UK markets must be CE mark certified by the EU Notified Body (NB) or EU Notified Testing Laboratory, and UKCA mark certified by the UK Market Conformity Assessment Body (UKMCAB)。 At the same time, UL Solutions will expand its building product safety services for CE and UKCA marks to help companies maintain market access and Building Products Regulation (CPR) compliance post-Brexit。 

　　Major power, control and communication cable services, including:

　　Testing and certification of CE marking requirements for CPR products on the European market

　　UKCA logo for CPR products in England, Scotland and Wales

　　North American safety testing and certification 

　　Various performance testing services for cables and cable assemblies based on national, international and industry specifications

　　UL Solutions' science-based testing and certification services help cable manufacturers assess compliance with EU CE marking and UK UKCA marking building products regulations to help them demonstrate their commitment to safety and gain market access throughout Europe。

　　Products are certified under UL International (Netherlands) BV's CE mark and UL International (UK) Ltd's UKCA mark Performance Stability Assessment and Verification (AVCP) System 1+ and System 3。According to product area 31 (power, control and communication cables), this helps to confirm compliance with EU and UK market access requirements。

　　(Credit: Trade Law & Communication)