AMCHAM focuses on increasing Sri Lanka's global competitiveness

Over 40 corporate heads, compliance officers and business related Associations participated in a luncheon seminar organised to raise awareness of the importance of compliance especially in software licencing as a means to differentiate their businesses and make them more competitive in the global market.

The event, hosted by AMCHAM focused on the importance of fair competition and the growing movement that requires manufacturers to be compliant in keeping with internationally accepted business ethics and norms with special emphasis on legal and properly licensed software and hardware in their operations.

The seminar, 'US Unfair Competition Laws - Impact and Opportunities for Sri Lankan Exporters to the USA' dicussed new trends in promoting fair competition, on a global scale.

Information was shared on how properly licensed companies can leverage their compliance as a competitive advantage in the global supply chain. For example, manufacturers who take timely measures to certify legal IT will enhance their reputation, safeguard their businesses, and have a competitive advantage against their non-compliant competitors.

"It is important that our membership and the local business community and Associations representing garment and manufacturing companies exporting to the US, are aware of the international business climate and increased focus on fair competition," said President of AMCHAM, Vijaya Ratnayake.

"Multinational corporations want to do business with companies that comply with the highest standards of IP, legal and ethical compliance, and Sri Lankan businesses that do so will rise to the top," he said.

AMCHAM launched this program as part of its ongoing intellectual property rights (IPR) campaigns and promoting the highest standards of business ethics among member companies.

The speakers included Counsellor, Economic and Commercial Affairs, US Embassy, Ms. Allison Areias-Vogel who spoke on the reduction of software piracy in Sri Lanka and General Manager, South East Asia, Microsoft Corporation, Jamie Harper spoke on 'Partnering Sri Lanka - our joint journey towards the Emerging Wonder of Asia'. In the US, a majority of states and the Federal Trade Commission agree that the use of illegal IT, including computer software gives companies an unfair advantage, and are willing to address this through legal means.

A US State Attorney General recently took enforcement action against two apparel manufacturers in China and India using illegal software to gain unfair competitive advantage in the production of clothing imported and sold in California.

"We particularly hope that this seminar has provided some insight into the opportunities that accompany being a compliant supplier," said a US lawyer at the law firm Sudath Perera Associates, Albert Kim.