Exclusion in US piracy watch list a boon for Phl

The Philippines should keep itself out of the US piracy watch list in order to further attract foreign and local investments, the country’s largest business organization said.

PCCI president George Barcelon said an economy where intellectual property rights (IPR) is protected and respected would not only attract foreign investments but also encourage local businesses.

“With the Philippines gaining a competitive edge in the region, remaining out of the US piracy watch list is a good boost for our local companies to compete in the market,” Barcelon said.

PCCI lauded the Philippine government for its continuous efforts in improving the environment in ensuring the protection and enforcement of IPR.

The continued improvements in the IP system have put the country among nations that were not cited under the United States Trade Representative (USTR) Special 301 Watch List released last month.

It is the third year the Philippines remains out of the list, which identifies countries with IPR problems.

The Philippines has been taken out of the list in 2014 after the government enacted a series of significant legislative and regulatory reforms that enhanced the protection and enforcement of IPR in the country.

Prior to its removal in the list, the country was either part of the watch list or priority watch list since 1994.

“On policy and even enforcement, we need people in the government who understand how the economy works.” PCCI intellectual property committee chairman Jesus Varela said.

He said the Philippines is one of the fastest growing economy in the region but its advantages have yet to be fully explored.

Varela, however, said it is a positive indication the Department of Trade and Industry has continuously worked in pushing for an innovation agenda in the country.

“For a small country like the Philippines, we have to be competitive through innovation”, he said.