Nigeria’s Prof MT Ladan Highlights 18 Benefits, Strategic Objectives of AfCFTA

Nigeria’s Expert of Regional Economic Integration Law and Practice in Africa, Professor Muhammad Tawfiq Ladan has outlined 18 benefits and strategic objectives of African Continental Free Trade Area (AfCFTA) Protocol on Intellectual Property Rights (IPP).

Speaking as Lead Technical Expert supporting the 55 African Union Members States Negotiating Teams at a meeting of Experts today in Djoubuti, Horn of Africa, organized by AfCFTA Secretariat Headquarters, Accra Ghana, to boost intra-African trade, foster innovation and creativity, and ensure fair trade practices, Professor Ladan urged delegates from the 55 African member states to focus more on the guiding principles and the ultimate goals of the AfCFTA.

Professor Ladan emphasized the following benefits and strategic objectives:-

1. That the AfCFTA Protocol on Intellectual Property Rights (IPR) and its draft Annexes aim to boost intra-African trade by harmonizing IPR frameworks across the continent, fostering innovation and creativity, and ensuring fair trade practices.

2. This will lead to increased trade in goods and services, promote technology transfer, and ultimately benefit African economies and citizens.

3. Promoting Intra-African Trade:the protocol seeks to standardize IPR rules and regulations, reducing complexities and inconsistencies that hinder trade between member states.

4. Reduced Trade Barriers: By addressing issues like parallel imports and exhaustion of rights, the protocol aims to facilitate the free flow of goods and services across borders, boosting intra-African trade.

5. Increased Investment: A predictable and consistent IPR environment encourages both domestic and foreign investment in research, development, and innovation, further stimulating trade.

6. Enhanced Competition: By promoting fair competition and preventing anti-competitive practices, the protocol aims to create a level playing field for businesses, driving innovation and trade.

7. Facilitating Technology Transfer: The protocol encourages the transfer and dissemination of technology, which is crucial for industrialization and economic diversification across Africa.

8. Benefits to Africans and Innovation: Increased intra-African trade and investment fueled by a robust IPR framework can lead to economic growth and job creation.

9. Empowerment of SMEs: The protocol can empower small and medium-sized enterprises (SMEs) by providing them with access to a larger market and a more supportive IPR environment.

10. Protection of Traditional Knowledge: The protocol acknowledges the importance of protecting traditional knowledge, ensuring that local communities benefit from the commercialization of their cultural heritage.

11. Encouraging Innovation: By fostering a culture of innovation and creativity, the protocol can help African countries develop their own technologies and solutions to address local challenges.

12. Access to Essential Goods: The protocol aims to ensure that IPR laws do not hinder access to essential goods like medicines and healthcare products.

13. Cultural Development: Protecting copyright and related rights will help preserve and promote Africa’s rich cultural heritage.

14. Draft Annexes and their Role: The draft annexes to the protocol are expected to further detail specific areas of IPR, such as:

Addressing issues like exceptions and limitations for educational and research purposes, as well as the preservation of cultural heritage.

Traditional Knowledge:

Providing specific mechanisms for the protection and benefit-sharing of traditional knowledge.

Geographical Indications:

Protecting products that are specific to certain regions, promoting their unique value and supporting local economies.

Specific Sectors:

Addressing IPR issues related to specific sectors like pharmaceuticals, biotechnology, and digital technologies.

By addressing these issues through the protocol and its annexes, the AfCFTA aims to create a vibrant and dynamic IPR landscape that supports intra-African trade, fosters innovation, and ultimately contributes to the sustainable development of the continent.