Kuwait, US mark lifting Kuwait from 301 Report
KUWAIT CITY, May 10, (Agencies): Kuwaiti and US officials Monday underlined the importance of lifting Kuwait from the US Watch List (the 2022 Special 301 Report) regarding intellectual property as it will have a major impact on promoting Kuwait’s economy and bringing in foreign investment.
This came during a ceremony held by the US embassy in Kuwait on lifting the country from the list, in the presence of head of National Library of Kuwait Sheikha Rasha Al-Sabah.
Speaking to reporters during the ceremony, US Attache for Intellectual Property in the Middle East Peter Mehravai said removing Kuwait from the list is a great starting point towards expanding commercial opportunities for American companies in Kuwait.
Intellectual property rights encourage innovators like engineers, artists and designers to invest in the market, he pointed out.
This reassures them that their intellectual rights will not be illegally published or imitated, he explained.
American and global firms seek to invest in countries that guarantee intellectual property rights, he affirmed.
Meanwhile, Assistant Undersecretary for Commercial Control and Consumer Protection Sector at the Ministry of Commerce and Industry Eid Al-Rashidi said the step was taken due to the country’s efforts. He referred to the promoted cooperation between Kuwait and the United States over the past years.
The report is issued annually by the Office of the United States Trade Representative on the effectives and efficiency of commercial partners’ efforts in protecting intellectual property rights.
Praised
Meanwhile, James Holtsnider, Chargé d’Affaires at the US Embassy in Kuwait has praised Kuwait after the Office of the United States Trade Representative removed its name from the Special Report 301 List this year, due to its continuous and prominent progress in protecting intellectual property rights, law enforcement and transparency, reports Al-Rai daily.
Speaking on the sidelines of a concert sponsored by the Italian Embassy yesterday evening at the Sheikh Jaber Al-Ahmad Cultural Center, Holtsnider, said “the removal of Kuwait from the list means that the US recognizes the progress it has made in the field of protection and enforcement of intellectual property rights and stressed Kuwait has now become a safe market for potential foreign investors”.
He added this report identifies a wide range of concerns related to the protection of intellectual property rights, including challenges related to enforcement measures against counterfeiting, electronic piracy, and misuse of trade secrets. He pointed out that removing Kuwait from this list proves that the country has made significant progress in the field of protecting and enforcing intellectual property rights.