By Vincent Munga
Cross-border cooperation among countries should be embraced to tackle counterfeit products, Attorney General Alliance-Africa Programme (AGA-Africa) International Advisor Mr. John Edozie has said.
Edozie who was speaking in Nairobi, Kenya says if African governments strengthens intellectual property protection and enforcement to combat counterfeit products, then the continent will realize progress and prosperity.
“Intellectual property in the 21st century is a critical driver of progress and prosperity as it fuels innovation, fosters creativity, and propels economic growth. Whilst in the past, business investments primarily focused on physical assets, today, the true value lies in intangible goods—the ideas and creations of the mind that shape our world,” he said.
As highlighted by the International Chamber of Commerce, in Kenya, the counterfeiting business is valued at approximately Sh116 billion, causing the government to lose around Sh11 billion to counterfeiting and piracy.
Edozie says this poses significant threats to economies, industries, and the well-being and safety of consumers.
“It deprives governments of essential revenues, discourages legitimate businesses, compromises product quality, endangers public health and safety and results in job losses,” he said.
He was speaking at a symposium to address counterfeit menace in Nairobi. The three day conference convenes prominent stakeholders, policymakers, legal experts, industry leaders, and international organizations involved in trade, intellectual property protection and enforcement.
They are exploring innovative strategies on how international cooperation and collaboration can be developed to improve both strategic and operational responses to what is now a global economic and criminal issue.
