Business Intelligence

Trade Related Intellectual Property Rights (Trips) Agreement And The Agriculture Sector In Sri Lanka

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Executive Summary

One of the main objectives of the World Trade Organization (WTO) is to facilitate the world's trade and production. It enforces legally binding multilateral agreements on trade in goods, services, and trade-related aspects of intellectual property rights to manage global trade efficiently. At the end of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) in 1994, the Trade Related Intellectual Property Rights (TRIPS) agreement was implemented to regulate standards of Intellectual Property (IP) regulations in WTO member countries. Being a member of the WTO and a signatory to the TRIPS agreement, it is compulsory for Sri Lanka to formulate its IP regulations to comply with the TRIPS agreement by the year 2006.

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