Experts Underscore Role of IPRs in Trade Under AfCFTA
The National Coordinator of the Nigeria AfCFTA Coordination Office, Olusegun Awolowo, has called for legal protection of African creations, noting that safeguarding Intellectual Property Rights (IPRs) is critical to achieving economic growth and sustainability through the African Continental Free Trade Area (AfCFTA).
He made the call on Friday at the ongoing 5th edition of the All Africa Intellectual Property Summit 2024, which is being held in Kigali, Rwanda.
The summit, titled Intellectual Property Rights (IPRs): The Catalyst for Sustainable Development Goals in Africa, aimed to examine the critical role of IPRs in the sustainability of international trade and innovation, as well as attempts to boost Africa’s economy.
Awolowo states, “Protecting intellectual property rights—whether through patents for inventions, trademarks for companies, or copyrights for creative works—is pivotal to unlocking Africa’s economic potential” .
He argued that entrepreneurial creations can only thrive in an environment with a strong intellectual property framework that encourages African startups to take on more risks and opportunities.
Awolowo said: “The future of Africa’s economic condition rests squarely on our ability to safeguard these intellectual assets, fostering a culture of creativity and innovation that drives prosperity”.
“The link between IP and job creation is undeniable, as a thriving innovation ecosystem generates employment and drives economic growth,” Awolowo said.
Proffering strategic solutions to challenging hindering good IPRs system in Africa, Awolowo called for, “Establish a unified, continent-wide framework for intellectual property protection, ensuring alignment with AfCFTA objectives and fostering harmonization among African states”.
Further, he urged stakeholders to invest in training programs to deepen expertise in intellectual property law, enforcement, and innovation management across Africa.
During a panel discussion, Olusegun Olutayo, Senior Trade Policy and Law Expert/Lead at the Nigeria AfCFTA Coordination Office, advocated for an African Intellectual Property (IP) regime that allows innovative minds to file patents for inventions, trademarks for brands, or copyrights for creative works in Nigeria while still being recognised and accepted in South Africa or any other part of Africa, stating that AfCFTA has capacity to guaranteed this.
Olutayo also urged for the harmonisation of all IP systems and legislation at all national levels, as envisaged in the AfCFTA Protocol on Intellectual Property Rights and with its Annexes to be concluded in 2025.
He informed delegates at the international summit that all IP must be driven with commercialization value in order to be useful, and align with the AfCFTA’s aim of achieving sustainable economic development.
