The government is committed to developing a robust IP framework: Jam Kamal

ISLAMABAD – Commerce Minister Jam Kamal Khan on Friday highlighted the crucial role of intellectual property rights (IP) in boosting innovation, creativity and achieving the Sustainable Development Goals (SDGs) in the country. The Minister reaffirmed the Government’s commitment to prioritize the development of a robust national intellectual property (IP) framework that promotes innovation and creativity to ensure equitable access to the benefits of IP, especially for marginalized communities .

Addressing a seminar organized by the Islamabad Chamber of Commerce and Industry (ICCI) in collaboration with the Intellectual Property Organization (IPO) to commemorate the World Intellectual Property Day 2024, the minister said that Pakistan is blessed with immense natural resources and it resources must be channeled and the direction.

This day has special significance as we reflect on the critical role of intellectual property in fostering innovation, creativity and ultimately advancing the Sustainable Development Goals (SDGs), he added.

The theme of the event was IP and SDGs: Building our Common Future with Innovation and Creativity as the event was also attended by senior officials from the Ministry of Commerce, IPO and businessmen and academics.

Jam Kamal said the government will promote partnerships and collaborations between government, industry, academia and civil society to drive innovation and entrepreneurship, with a strong emphasis on technologies and solutions that support the achievement of the SDGs.

Stressing the need to focus on leveraging intellectual property as a strategic tool to accelerate progress towards the SDGs, the Minister said the Ministry of Commerce is committed to promoting policies that strengthen the intellectual property ecosystem , especially with regard to sustainable development.

It was also the government’s intention to invest in capacity building initiatives to increase awareness and understanding of IP rights among entrepreneurs, researchers and innovators so that they can effectively leverage IP for sustainable development, he added.

He said the country was going through a challenging time and stressed the need for more innovation to increase the competitiveness of local products, capture international markets and increase exports from the country.

The Minister commended IPO-Pakistan and Islamabad Chamber of Commerce and Industry for commemorating this important day and expressed commitment to promote IP rights and raise awareness.

The minister emphasized the importance of IP rights and said that these rights are fundamental drivers of innovation and creativity. He said it encourages individuals and companies to invest in research and development, which in turn leads to the creation of new technologies, products and services. This innovation, which he says is stimulated by protection of intellectual property rights, plays a crucial role in addressing the challenges outlined in the SDGs, from eradicating poverty and hunger to promoting sustainable economic growth and promoting inclusive societies.

In our pursuit of the SDGs, IP functions as a powerful factor in various sectors. He added that it supports advances in healthcare by facilitating access to clean water and life-saving medicines and treatments.

The minister said IP rights are also vital for sustainable agriculture through the protection of plant varieties and agricultural innovations, adding that it also promotes clean and affordable energy solutions by safeguarding technological developments in renewable energy.

Jam Kamal assured all possible support from the Ministry of Commerce in taking up projects for the expansion of exhibition centers and industrial estates of the ICCI to strengthen initiatives to promote trade and investment opportunities in the federal capital.

The minister also sought proposals from the business community to promote and develop business in the country, which he said would also be included in the upcoming federal budget for the financial year 2024-2025.

Speaking at the event, President ICCI Ahsan Zafar Bakhtawari urged the need for a proper mechanism for the strict implementation of IP rights.

He also urged to rationalize power tariff to make local products more competitive and capture necessary space in global markets, and to increase exports to achieve sustainable economic development and social prosperity.