Speakers stress stronger intellectual property protection to attract more FDI

Speakers at a dialogue on Wednesday stressed the need for a stronger intellectual property protection to attract more foreign direct investment and secure its position in the global supply chain.

They also stressed for upgrading IP laws.

The observations were made at a dialogue titled "Strengthening IPR Frameworks in Bangladesh: Current Status and the Way Forward" organized by the AmCham at The Westin Dhaka.

Highlighting the importance of Intellectual Property Rights (IPR), American Chamber of Commerce in Bangladesh (AmCham) president Syed Ershad Ahmed said if IPR can be enforced, it would actually change the business ecosystem and investment ecosystem, thus attracting more investment.

"And foreign importers will get more confidence to source from Bangladesh," he noted, explaining why they are pushing the issue.

Bangladesh government made some improvements in IPR, like developing law, he said, stressing the coordinated efforts among all government agencies and stakeholders, including media, to effectively implement the law.

Shilpi Jha, Senior Commercial Specialist and IP Policy Advisor-South Asia at the U.S. Embassy, New Delhi, highlighted that they aim to strengthen IPR laws in the region.

As such, they have been advocating for international laws by either doing due diligence or through various capacity building programs or discussions like this, she noted.

Stressing the importance of IPR, she said the issue has also largely mentioned in the US-Bangladesh trade agreement.

Ms Jha said the new government has a key opportunity to strengthen Bangladesh’s IP framework, attract investment, and support Micro, Small, and Medium Enterprises (MSMEs).

She stressed the need for better IPR enforcement capacity.

"IP becomes a very important part and parcel of that game plan and it's a game changer," she noted.

Ms Jha said they are pushing Bangladesh government to upgrade its IP laws, saying once upgraded, it will be easier for Bangladeshi nationals to file more IP.

She further recommended mandatory training for enforcement officials to help them distinguish between patents, trademarks, copyrights, and geographical indications.

The session highlighted that effective IPR protection requires coordinated action across sectors, particularly in managing imports and addressing policy frameworks.

The event concluded with a consensus that building a robust IPR regime is an immediate necessity for Bangladesh to successfully graduate from LDC status and secure its position in the global supply chain.

AmCham Executive Committee members Al-Mamun M Rashel (Treasurer) and Mirza Sajib Raihan, Paul Frost Commercial Counsellor, among other US Embassy officials, spoke there.

Munni_fe@yahoo.com