SABIC sponsors Arab Forum on Anti-Commercial Fraud, Counterfeiting and Protection of Intellectual Property Rights
The Saudi Basic Industries Corporation (SABIC) sponsored the Third Arab Forum on Anti-Commercial Fraud, Counterfeiting and Intellectual Property Rights Protection, being held in Riyadh under the aegis of Saudi Customs from March 3-5. As the good sponsor of the event, SABIC was presented an honorary plaque on the opening day of the event by Dr Ibrahim bin Abdulaziz Al-Assaf, Minister of Finance. Mohamed Al-Mady, SABIC Vice Chairman and CEO, received the plaque on behalf of SABIC.
“SABIC’s sponsorship of the forum comes as part of its Corporate Social Responsibility programs to contribute towards safeguarding community health and safety, and support the national economy. SABIC has been a strong supporter of local, regional and global efforts to fight commercial fraud and counterfeiting, which adversely affect the national industry and the overall well-being of the consumer.” Mr Al-Mady said.
The forum was being attended by representatives from various agencies involved with anti-fraud and intellectual property protection measures at the local, regional and international levels, besides executives from global brands. The forum aims at creating a partnership between the public and private sectors to exchange information and experiences on ways to fight these criminal acts and apply best practices. Participants were seeking ways to dry up the sources of producing counterfeit goods and violating Intellectual Property Rights. It further highlights the importance of specifications and standards as a first step towards fighting this menace, and the role of the Customs in this regard.
The Second Arab Exhibition on Consumer Awareness of Genuine Products was also being held on the sidelines of the forum, highlighting the role of the Customs and the private sector in training the relevant personnel to differentiate genuine and fake goods.