The Minister for Commerce, Trade, Tourism and Transport has placed his support for Bill No 45 which would establish the legislative requirements for registration of trademarks in Fiji.
Speaking in Parliament Faiyaz Koya said the Bill would be beneficial for Fijian businesses, which were creating a niche for themselves however did not have thousands of dollars to protect their brand in the international markets.
“The Fijian Government has a strong focus on nurturing and growing the micro, small and medium enterprises (MSMEs),” Mr Koya said. “Therefore, this Bill will provide the much needed protection to our MSMEs.
“It will allow them to reach out and establish trademarks – establish brand recognition, without having to worry about the exorbitant costs.”
Mr Koya stated in Parliament, they saw many goods and services in the domestic and global markets traded daily. “We are exposed to hundreds of trademarks in our everyday life. Most of the buying decisions of consumers are based on the reputation of trademarks and brands.
“Due to globalisation, liberalisation of international trade and the advancement of the digital technology, need of trademarks are growing globally.
“The need to protect your brand is very important.
“Trademark as an intellectual property, is a critical element in today’s competitive market place and digital market space.
“Business enterprises are using trademark as a legally protected valuable and important marketing tool for differentiation of their products.”
Trademarking products and services were stated to also protect businesses and consumers from counterfeit products according to the minister.
“As such, trademarks are also used to protect consumers.
“Counterfeit goods cause billions of dollars of losses each year to brand owners.”
He said the Trademark Bill was in line with the Paris Convention for the Protection of Intellectual Property.
The Paris Convention together with the Trademark law would allow for a business to register a trademark in Fiji and it would be registered in the 119 countries which were parties to the Convention as stated by the minister.
“In the current economic context, the possibility of providing easy, low-cost protection for marks provides a welcome advantage for companies and individuals,” he said.
