KATHMANDU, AUGUST 17
Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has reiterated the government's commitment to protection of intellectual property rights (IPR) to motivate intellectuals and creative individuals and companies, and facilitate and enhance foreign direct investment (FDI) for economic prosperity.
Addressing a one-day interactive session on IPR, Minister Badu further stated that his ministry has drafted the Industrial Property Bill for the protection of innovation, inventive trademark, certificate mark based on IPR.
"The Ministry of Industry, Commerce and Supplies (MoICS) is also leading and coordinating with other ministries, stakeholders, research centres and Tribhuvan University for the promotion and protection of IPRs," he said. "MoICS, with an aim to protect and promote IPR in Nepal, is implementing two major legal instruments - Trademark, Patent and Copyright Act, and New Integrated IPR Law."
Likewise, President of Nepal Chamber of Commerce (NCC) Rajendra Malla said that the key constraint for FDI inflow is the lack of proper IPR law, lack of proper branding of Nepali products and trademark logos, which are also widening the country's trade deficit.
"Our carpets and tea are losing their share in the international markets because of lack of proper branding and trademark. If the government promotes and ensures IPR protection, more foreign companies will invest in Nepal. Also, proper packaging and branding of local products will help narrow the ballooning trade deficit of the country."
Officiating President of Nepal-India Chamber of Commerce and Industry (NICCI) Sunil KC, Vice-President of Confederation of Nepalese Industries (CNI) Krishna Prasad Adhikari, and Senior Vice-President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Dhakal urged the government to fast track the endorsement of Industrial Property Rights in the Parliament, which will facilitate to being in more FDI into Nepal, and protect investment of the private sector.
Ravi Rayavaram, managing director of Surya Nepal, presented a paper on 'Intellectual Properties and Modern Economies'.
Likewise, IPR legal expert Sajjan Bir Singh made a presentation on perspectives and importance of IPR.
Meanwhile, Krishna Gyawali, former secretary of MoICS; Saibal Gosh, co-convener of IBF Committee; Manoj Mishra, country manager of Kansai Nerolac Paints; Amir Pratap Rana, CMD of Kiran Shoe Manufacturers (Goldstar); and Suresh Joshi, director of Department of Industry (IPR Section) discussed the challenges of IPR, constraints for FDI inflow in Nepal and export promotion of indigenous products of Nepal in international markets.
A version of this article appears in the print on August 18, 2022 of The Himalayan Times.
