NICCI urges govt to bring IPR law on a par with int’l practices

KATHMANDU: Nepal-India Chamber of Commerce and Industry (NICCI) organised an interactive seminar on Intellectual Property Rights (IPR), a key constraint for foreign direct investment (FDI) inflows, in Kathmandu, on Wednesday. Officiating President of NICCI, Sunil KC, highlighted the importance of IPR in the present context. He said, "We need to focus on the promotion of Nepali brands in our own domestic market as well in the international market while seeking FDIs." He said IPR is a broad terminology, that also includes trademarks, patents, copyright and many other technical aspects. "But we are missing benefits due to poor legal provisions based on outdated Act and regulations, and because of existing IPR rules, which are not on a level with WTO norms and WIPO (World Intellectual Property Organisation) standard," KC said, and added, "We have to understand that the foreign investors who plan to extend their investments in Nepal also want to ensure that their brands, trademarks patents are secured. So, the government should think from that angle to bring more FDIs into Nepal. Nepali Investors are having problems due to poor IPR policy and related Acts and lack of appropriate law, he added. On the occasion, Vice President of Confederation of Nepalese Industries (CNI), Krishna Prasad Adhikari, said IPR-related issues have to be considered as the first and most important condition of the investors. If we could develop IPR as a pre-condition for the investors then it will ease the promotion of Technology Transfer, Investment in Infrastructure and the SME sector. Many foreign investors are unable to come and invest due to a lack of IPR-related laws. Senior Vice-President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, said foreign investments are not coming as expected even though we have huge potential and opportunities. Dhakal urged the government to share the recently drafted IPR bill with private sector stakeholders and consult with them also. Nepal Chamber of Commerce (NCC) President Rajendra Mall stressed that the government need to bring export-oriented policy to minimise the trade deficit. In the programme, Senior Advocate and IPR expert  Sajjan Bar Singh Thapa said the outdated IPR law has to be amended as it can not cover contemporary issues. In the Seminar, presenting a presentation from Bi-national Industry perspective, Ravi Kumar Rayavaram, MD, of Surya Nepal, said IPR issues have been one of the major problems for investors to protect their intellectual property. IPR-related law is very weak in Nepal, he said and added that one-third of the world’s total economy is based on IP. "It is surprising to see that the foreign prestigious and well-established brands have been registered here by some other local companies and earning and due to which International brands and companies have not been able to come and invest in Nepal due to the weak IPR law," he said. Amir Pratap Rana, Chairman and Managing Director of  Kiran Shoes Manufacturer, a manufacturer of Goldstar Shoes, also shared that their brands have been used by other local as well as foreign companies and they have been filing cases in both Nepal as well as abroad so as to protect their brand and IPR. He suggested the government bring proper IPR law with strong provisions for the compensation to be made to the victims. [gallery columns="1" link="file" size="full" ids="27694,27691"] Chief Guest at the event, Minister of Industry, Commerce and Supplies Dilendra Prasad Badu reiterated the government’s commitment to the protection of IPR to promote brands and investors. The minister assured the participants that the drafted bill currently submitted to the Ministry of Law will be shared and consulted with private sector stakeholders. Giving the vote of thanks, NICCI Vice President Harkirat Singh Bedi said it has to be considered why FDI is not coming as expected. She also urged the government to think about IPR-related issues seriously. In the seminar former Industry Secretary Krishna Gyawali, IPR expert Rajkumar Suwal, Department of Industry Director Suresh Raj Joshi, Chartered Accountant Kaushlendra Jha, Dev Bhakta Shakya and Sushma Sharma also expressed their views on IPR-related issues. The seminar was conducted by Sarah Sapsanamma Rai and Moderated by Kuber Chalise. READ ALSO:

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