Effective legal, institutional framework crucial for IP protection after LDC graduation: Experts

Experts and policymakers today stressed the need for an effective legal and institutional framework to address the challenges of intellectual property (IP) protection following Bangladesh’s graduation from the least developed country (LDC) category.

They said the changing intellectual property landscape would create new challenges for Bangladesh’s pharmaceutical, readymade garment, information technology, agriculture and other industrial sectors, while also opening up opportunities for innovation, technological advancement, branding and value addition.

They made the remarks at a focus group discussion titled “Industrial Shift in the Post-LDC Era: Strategies for IPR Issues of Key Industries”, jointly organised by the Dhaka Chamber of Commerce and Industry (DCCI), Support to Sustainable Graduation Project (SSGP) and the Economic Relations Division (ERD) at the DCCI Auditorium in the city.

In his introductory remarks, SSGP Project Director and Additional Secretary A.H.M. Jahangir said the private sector would face the most significant challenges in the post-LDC era.

He stressed the importance of ensuring proper enforcement of intellectual property laws, preparing industries for the transition and formulating necessary policies.

In his welcome address, DCCI President Taskeen Ahmed said the importance of intellectual property rights (IPR) for products is continuously increasing in the global economy. “A strong intellectual property rights ecosystem is essential for Bangladesh in the post-LDC era,” he said.�"BSS