‘IP rights critical for SDGs’

Minister stresses development of robust IP framework to spur innovation

ISLAMABAD:

Minister for Commerce Jam Kamal Khan on Friday emphasised the vital role of intellectual property (IP) rights in driving innovation, creativity and achieving the Sustainable Development Goals (SDGs).

He reaffirmed the government’s resolve to prioritise the development of a robust national IP framework that would foster innovation and creativity for ensuring equitable access to the benefits of IP, especially for the marginalised communities.

Speaking at a seminar organised by Islamabad Chamber of Commerce and Industry (ICCI) in collaboration with the Intellectual Property Organisation (IPO) to commemorate the World Intellectual Property Day 2024, the minister said that Pakistan was blessed with huge natural resources and needed to channelise those resources in the right direction.

“This day holds a special significance as we reflect on the crucial role of intellectual property in fostering innovation, creativity and ultimately advancing the Sustainable Development Goals,” he added.

The theme of the event was “IP and SDGs: Building our Common Future with Innovation and Creativity.” The event was attended by senior officials of the Ministry of Commerce, IPO, businessmen and the academia.

The commerce minister declared that the government would promote partnerships and collaboration among the state, industry, academia, and civil society to drive innovation and entrepreneurship, with a strong emphasis on technologies and solutions that could support the achievement of the SDGs.

He stressed the need for leveraging IP as a strategic tool to accelerate progress towards the SDGs, adding that the Ministry of Commerce was committed to advancing the policies that would strengthen the IP ecosystem, particularly in relation to sustainable development.

“The government intends to invest in capacity-building initiatives to enhance awareness and understanding of IP rights among entrepreneurs, researchers and innovators to enable them to leverage IP effectively,” he said. The innovation spurred by IP protection, the minister said, “plays a critical role in addressing the challenges outlined in the SDGs, from eradicating poverty and hunger to promoting sustainable economic growth and fostering inclusive societies.

Published in The Express Tribune, April 27^th, 2024.

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