KATHMANDU: Minister of Industry, Commerce and Supplies Matrika Prasad Yadav has said that the Government of Nepal is serious about protecting intellectual property rights by constitutionally establishing the same as a fundamental right.

He shared this during a meeting with Francis Gurry, director general of the World Intellectual Property Organisation in Geneva, Switzerland, today.

The minister said that preparations were under way to revise old laws related to intellectual property and bring new acts.

Minister Yadav said that there were many challenges in implementing the IP related laws and pointing out the need for broader awareness among the general public about the matter, his private secretariat stated.

He said that research and studies in the academic sector, geographical diversity and strong laws related to intellectual property, especially patent rights, would give a new identity to Nepal in the world map.

Stating that Nepal was in dire need of technical and non-technical support for formulating new laws related to intellectual property,  Minister Yadav appreciated  World Intellectual Property Organisation for its assistance to Nepal. WIPO Director General Gurry pledged to provide the needed assistance for protecting  intellectual property rights in Nepal.

Minister Yadav is currently in Geneva to attend the world investment forum of the United Nations Conference on Trade and Development.