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Based in Washington D.C., the U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million business of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

The delegation, comprised of representatives from the U.S. Chamber of Commerce’s member companies, was in Australia as part of the GIPC’s efforts to champion innovation and creativity through enhanced intellectual property standards around the world.

GIPC senior vice president Patrick Kilbride said that now at the beginning of the new term of the 46th Parliament was an ideal time to discuss with the nation’s key decision-makers the importance of Australian ideas, innovation and local intellectual property to competitiveness in a globalized knowledge economy.

“In today’s dynamic and disrupted global economy, IP and innovation are of paramount importance, particularly in relation to economic growth and development,” Mr. Kilbride said.

“Australia and the United States have a long history of mateship and collaboration, with many shared values particularly around innovation and IP, generating jobs, fostering mutually beneficial trade and protecting our own sovereign capabilities. It is important to continue the dialogue about ways Australia and the United States can continue to work together to further foster our tremendous bilateral partnership.”

The U.S. delegation discussed with key decision-makers the International IP Index, produced by the U.S. Chamber of Commerce, which benchmarks the IP environment in 50 global markets around the world.

The Index spotlights key elements of Australia’s regulatory environment for IP that significantly impact the viability of biomedical research, Australia’s attractiveness for foreign investors and the production of new lifesaving cures.

Accordingly, GIPC is calling for Australia to enhance its patent notification system to add transparency and predictability to the supply of innovative, new medicines. Strengthening these elements of Australia’s IP regime would help life sciences innovation to thrive, stimulate economic growth, and bolster Australia’s economic competitiveness.

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