The National Chamber of Exporters of Sri Lanka (NCE) has underscored the significance of Sri Lanka’s potential accession to the Madrid Protocol for trademark registration, emphasizing the positive impact it could have on the country’s export sector.
In his 2023/24 National Budget speech, the President of Sri Lanka acknowledged the hurdles faced by exporters in registering trademarks globally, citing both time and financial constraints. The move to join the Madrid Convention, as highlighted by the President, aims to streamline and expedite the trademark registration process, crucial for enhancing the competitiveness of Sri Lankan brands and elevating the value of export products.
A recent meeting organized by the Ministry of Trade, Commerce, and Food Security further shed light on the nation’s journey towards joining the Madrid Protocol. Director General of the NIPO office, Geethanjalie Ranawaka, disclosed that the decision to join the protocol had been a topic of debate in Sri Lanka for the past few years. Despite initial agreement in 2017, delays pushed the process to 2018 and eventually to 2020. In mid-2020, the government granted approval for accession, with necessary legal amendments already underway. During the November 15, 2023 meeting, the Ministry Secretary assured stakeholders that the accession process would expedite, aligning with the President’s commitment outlined in the budget speech. This move is expected to grant Sri Lankan exporters a cost-effective platform to showcase their brands globally.
The Madrid Protocol, an international treaty facilitating trademark registration globally, offers several advantages. By enabling a centralized system for international trademark registration, businesses in Sri Lanka can simplify the process, reducing both time and costs associated with individual applications in multiple countries.
Secretary General/CEO of NCE, Shiham Marikar, expressed full support for Sri Lanka’s accession to the Madrid Protocol. He emphasized the potential savings for the country, foreseeing increased credibility for Sri Lankan brands in the global market. Director of IMPERIAL TEA EXPORTS (Pvt) LTD and NCE Council Member, Jalinda Praneeth Karunaratne, highlighted the financial burden associated with current trademark registration processes and the substantial savings that could be realized through Madrid Protocol membership.
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