The Department of Trade and Industry (DTI) on Tuesday said it welcomes the United States Trade Representative (USTR) Special 301 Report for 2016, which listed the Philippines as one of the countries with strong intellectual property rights (IPR) protection and compliance.
Trade Secretary Adrian Cristobal Jr. said the government’s IPR protection and enforcement creates an environment where creativity and innovation can flourish.
“This positive news encourages us to venture further into cutting edge innovation and technology as tools for inclusive growth and sustainability,” Cristobal said in a news statement.
For three consecutive years now, the Philippines has been off the USTR Special 301 Watch List. The report is an annual review of IPR protection and enforcement of the US’s trading partners.
According to the DTI, continued policy reforms and active partnership between the government and the private sector are among the initiatives taken for IPR protection and enforcement in the country.
“The Special 301 Report cites the Philippines’ public-private partnership in raising IPR protection awareness as among the best practices worldwide,” the agency stated.
The DTI added that its programs support innovation entrepreneurship among micro, small and medium enterprises in the country, and also works with other government agencies, including the Department of Science and Technology and the Intellectual Property Office of the Philippines.
The DTI also formed a task force on Innovation and Entrepreneurship to specifically focus on the development of innovative technologies and products in the country.
Cristobal said that the agency considers IPR protection and enforcement as a “vital” component in pushing for the country’s Innovation Economy Agenda, as patented inventions, franchise business opportunities, copyrighted materials and industrial designs, and start ups rely heavily on it.
“A strong IPR regime is one of the essential elements in an ecosystem that would encourage the growth of start-ups,” Cristobal said, adding that the DTI recently launched Slingshot, a program that supports start-ups in the country.
DTI Undersecretary Nora K. Terrado also emphasized that venture capitalists, angel investors and entrepreneurs favor countries which support and comply with international regulations on intellectual property protection.
“This ensures them that their businesses, products and technologies, specifically those in the innovative and creative industries, are protected,” she added.