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The world has moved to a so-called knowledge economy - the economy based on knowledge. The creation and use of knowledge and the acquisition of expertise and quality in all activities are therefore of crucial importance said Commerce and Consumer Affairs Minister Ravi Karunanayake.

He was speaking at the inaugural session of the World Intellectual Property Organisation (WIPO) Regional Training Course on "Intellectual Property Law and Practice for Asia and the Pacific Region, held at the Sri Lanka Foundation Institute in Colombo from June 18 to 27.

The Minister remarked that governments will fail in its duty towards fulfilling the social justice of the people if it did not take adequate steps to move towards improving "knowledge economy".

The Minister stated that promotion and encouragement of national creativity should receive highest priority as our future will predominantly depend on the creativity of the people and the creation and use of knowledge. He said "Those who create and possess knowledge, quality and efficiency will be the winners."

He also cautioned that Sri Lanka or for that matter any other developing country of the region cannot be indifferent to this reality and run the risk of being marginalized. He also said intellectual property system plays a far more important role in the development process. The Government was committed to promote the national creativity as well as the protection of intellectual property rights, he added.

"We are also much concerned about certain new issues such as the protection of traditional knowledge, folklore and bio-diversity", he pointed out.

The Minister reiterated that these new developments particularly in the areas of information technology including e-commerce are crucially important for us.

The Minister also observed that the Government wished to use the Intellectual Property system as a tool of development and for the benefit of the people. This will also mean that even if we were to protect and see to the needs of the poorer and the under privileged sections of the society.

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