Speakers at a dialogue said that a strengthened IPR (Intellectual Property Rights) regime is essential for Bangladesh's economic growth and enhancing foreign investment.
This will position Bangladesh as an attractive destination for global business, promoting sustainable economic integration and growth, they said.
The speakers made the observations at the dialogue organized by the American Chamber of Commerce in Bangladesh (AmCham) on “Strengthening IPR Frameworks: Challenges and Way Forward” at the Westin Dhaka hotel on Tuesday.
Previously the AmCham hosted a seminar on “IPR Protection & Practices: Driving Economic Growth in Bangladesh” on November 30, 2023.
They submitted a recommendation to the senior secretary of the Ministry of Industries.
As Bangladesh's graduation from Least Developed Country (LDC) status approaches, AmCham organized the seminar to review the progress of the submitted recommendations and the chamber’s ongoing commitment to promoting intellectual property rights.
The chamber organized the dialogue with the involvement of all the relevant government stakeholders, regulatory bodies, and AmCham members whose businesses have relevance to IPR.
Shilpi Jha, Senior Commercial Specialist and IP Policy Advisor-South Asia at United States Patent and Trademark Office (USPTO) and Barrister Hamidul Mishbah, IP lawyer and founder, Bangladesh IP Forum, attended the dialogue.
AmCham President Syed Ershad Ahmed joined as the Session Chair, Treasurer Al-Mamun M Rashel and Executive Committee members Mirza Shajib Raihan and Rubaba Dowla and a few AmCham members including Kabir Ahmed, Chairman, Conveyor Logistics Limited; President, BAFFA, Syed Mohammad Kamal, Country Manager, MasterCard, John Fay, Commercial Counselor, U.S. Embassy Dhaka, Zaved Akhtar, President of FICCI, Ashraf Ahmed, President of DCCI, Abdul Muktadir, Chairman and Managing Director at Incepta Pharmaceuticals Ltd. and President of BAPI Md. Munim Hassan, Director General, Department of Patent, Design and Trademarks, Hossain Ahmed, Member (Customs: Policy and ICT), NBR and members or representative from Ministry of Commerce, Ministry of Foreign Affairs, Ministry of Cultural Affairs, Ministry of Law, Justice and Parliamentary Affairs, Bangladesh Trade and Tariff Commission, ICT Ministry, Law Enforcement Agency, academicians, researchers, business lawyers and legal experts, trade and business editors from different media outlets also attended the event.
Some key issues highlighted for further improvements are: reviewing Customs IPR rules, centralized filing system to NBR, business software and cloud protection, trade mark registration issue resolution, protecting the intellectual property rights of consumers and buyers in the RMG sector, awareness and capacity building on IPR, enforcing IPR compliance in procurement, IPR friendly ecosystem development, introducing a new law for IP creators, enhancing enforcement coordination, international patent law enforcement, and reforming the existing IPR law.
The discussion, along with the new recommendations, if implemented effectively, could attract more foreign direct investment (FDI) and contribute to achieving sustainable economic growth in Bangladesh.
The dialogue was supported by Conveyor Logistics Ltd., one of the industry leaders committed to promoting sustainable economic integration and growth in the logistic sector in Bangladesh.
The Chairman of Conveyor Logistics Ltd., Kabir Ahmed, also had a brief recommendation on the issue.