The World Anti-Counterfeiting Day was established by the Global Anti-Counterfeiting Group (GACG) to address the risks and damage caused by the counterfeit and piracy trade. As recently as in 2019 the Organisation for Economic Co-operation and Development (OECD) estimates that trade in global ‘fake goods’ was a hefty 3.3% of overall world trade. Accordingly, Sri Lanka has a robust IPR framework which recognizes the importance of effective enforcement of IPR for the protection of consumers and brand owners. I strongly believe that inculcating IPR protection at secondary education levels will help in educating young minds on the importance of IPR protection, as they are the future generation of inventors, creators and leaders of our nation. Moreover, as the country focuses on increasing international trade and investment, IPR protection, along with investment protection, is of the utmost importance to ensure the development of the local economy.

Source: The Nation June 09, 2021 11:03 UTC