At its meeting, the Board of the Eurasian Economic Commission (EEC) approved the draft Protocol on Amendments to the Treaty on the Eurasian Economic Union of May 29, 2014.
The document grants the Eurasian Intergovernmental Council the authority to use the international principle of exhaustion of trademark rights in respect to the certain types of goods. These amendments will be introduced in clause 16 of the Protocol on Safeguards and Protection of Intellectual Property Rights (Appendix No. 26 to the Treaty on the Eurasian Economic Union).
“The Eurasian Intergovernmental Council will now have the authority to apply temporary exclusions from the regional principle of exhaustion of trademark rights in respect to certain types of goods. This means that “parallel” imports could be allowed for certain types of products in the territory of EAEU. At the same time, such pin-point legalization will be implemented by taking into account the interests of all countries of our Union,” said Timur Zhaksylykov, Member of the Board (Minister) for Economy and Financial Policy of EEC.
The application of international principle is established in respect to certain types of goods at the initiative of the member states of the Union, if such goods are not available on the domestic market of the Union, or are available in insufficient quantities, and/or are sold at inflated prices, as well as in other cases based on economic interests of member states.