Exports crosses $2 billion consecutively in 5 month: Razak Dawood

ISLAMABAD, Feb 26 (APP):The Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood on Friday said Pakistan has joined the Madrid system of Trademark of World Intellectual Property Organization (WIPO), which allows the brand owners to protect their trademarks of different local items.

The Adviser, Abdul Razak Dawood, held a consultative a meeting at the Ministry of Commerce discusses matters relating to the intellectual property ecosystem of Pakistan, said a press release issued here.

At the outset, he was informed that as a landmark achievement, after joining the Madrid system of trademark of WIPO, local brand owners now allows to protect their trademarks in over 100 countries through a single and cost-effective procedure.

The Adviser said the Ministry of Commerce remains committed to supporting Pakistan’s brands and strengthening of intellectual property ecosystem.

He was further informed that the President of the Islamic Republic of Pakistan has signed the instrument of accession which paved the way for Pakistan to become the 108th country in the world to join the Madrid System.

The adviser said that Pakistan’s permanent representative of country to the United Nations in Geneva deposited the instrument of accession with the WIPO.

He was briefed that with this development, the trademark holders of Pakistan would be able to protect their trademarks in more than 100 countries, by filing a single application at WIPO. Similarly, the member countries of the Protocol would also be able to get protection of their Trademarks in Pakistan by using Madrid route, he said.

He said that it would go a long way in ameliorating the business environment in Pakistan.
It will also encourage foreign investment in the country.

Razak Dawood lauded the efforts of the Intellectual Property Organization of Pakistan (IPO) in this regard.

He said that it is the policy of the government to help Pakistan’s brands to go global.
“This is the best and the most sustainable way to increase exports.” he said.
He said the Ministry of Commerce remains committed to supporting Pakistan’s brands and to strengthening of intellectual property ecosystem.