Institute of Policy Studies of Sri Lanka  highlights need for strong IP policy for Sri Lanka

• Specially as SL transitions to a highly-competitive, knowledge-based economy, fuelled by free trade
• Importance of having an IP policy on par with international standards stressed

The protection for Intellectual Property (IP) is vital to support growth and stimulate innovation in developing countries, provided that they are implemented at the right time, and Sri Lanka is at the right stage in development to formulate and implement such a policy, highlighted Executive Director of the Institute of Policy Studies of Sri Lanka (IPS), Dushni Weerakoon. 
Dr. Weerakoon also noted that a strong IP policy was especially important as Sri Lanka is transitioning to a highly-competitive, knowledge-based economy, fuelled by free trade.  
She made these remarks at the validation workshop on ‘Formulation of Intellectual Property Policy for Sri Lanka,’ organised by IPS in collaboration with the Industry and Commerce Ministry at the Dr. Saman Kelegama Auditorium in Colombo, early this week.
IPS and the ministry commenced formulating an IP policy for Sri Lanka in February this year. The research related to this process is carried out by IPS Research Officer, Dilani Hirimuthugodage, with Senior Lecturer of the Faculty of Law at University of Colombo, Sampath Punchihewa and IPS former Research Fellow, Parakrama Samaratunga, supported by the members of the IP Policy Formulation Sub-Committee.
Hirimuthugodage highlighted eleven policy statements to address existing gaps, policy implementation strategies, and institutes responsible for implementing such strategies. In her presentation, she strongly emphasized the need for creating awareness among the general public and encouraged the generation and creation of intellectual property rights.
Meanwhile, Dr.Punchihewa elaborated on the importance of having an IP policy on par with the international standards.
Chairing the technical session, Co-Chairman of the IP Policy Formulation Sub-Committee, Prof. Ajith de Alwis stressed the need to promote innovation mindsets throughout the primary, secondary and tertiary education systems and the importance of commercialization of intellectual properties in universities and research institutes.
The validation workshop aimed to disseminate the draft report on IP Policy for Sri Lanka, to facilitate a dialogue between key stakeholders on policy implementation strategies, and to finalise the policy statements, implementation strategies, and policy goals.