KUWAIT, May 9 (KUNA) -- 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. (end)