NEW DELHI: India has welcomed the first ever World Intellectual Property Organisation (WIPO) Treaty on Intellectual Property (IP), Genetic Resources (GR) and Associated Traditional Knowledge (ATK) ‘as marking the start of a journey to achieve collective growth and deliver the promise of a sustainable future.’

The treaty was adopted on 24th May after 192 countries and 86 observer organisations convened in Geneva from 13th May for a diplomatic conference at the WIPO headquarters.

‘For the first time, the system of knowledge and wisdom which have supported economies, societies and cultures for centuries are now inscribed into the global IP system,’ India’s Ministry of Commerce and Industry said in a statement.

‘The treaty will enter into force three months after 15 countries have ratified it or acceded to it,’ WIPO confirmed.

‘Across the ages and around the world, people have depended on genetic resources in their environment to improve their lives,’ WIPO said.

Source: Emirates News Agency