Saudi Arabia Brings Together WIPO’s Intellectual Property Community Outside Geneva for 1st Time

CEO of the Saudi Authority for Intellectual Property Dr. Abdulaziz Al-Suwailem addresses the audience. (Asharq Al-Awsat)
CEO of the Saudi Authority for Intellectual Property Dr. Abdulaziz Al-Suwailem addresses the audience. (Asharq Al-Awsat)
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Saudi Arabia Brings Together WIPO’s Intellectual Property Community Outside Geneva for 1st Time

CEO of the Saudi Authority for Intellectual Property Dr. Abdulaziz Al-Suwailem addresses the audience. (Asharq Al-Awsat)
CEO of the Saudi Authority for Intellectual Property Dr. Abdulaziz Al-Suwailem addresses the audience. (Asharq Al-Awsat)

Saudi Arabia is gathering the global intellectual property community in Riyadh to shape the future of design rights at the Diplomatic Conference for the Design Law Treaty. This event marks the first time in over a decade that the World Intellectual Property Organization (WIPO) has held a diplomatic conference outside Geneva, and it is also the first such event hosted in Saudi Arabia and the Middle East.

The conference represents the final phase of negotiations to establish a treaty aimed at simplifying design protection processes by standardizing international registration requirements.

Dr. Abdulaziz Al-Swailem, CEO of the Saudi Authority for Intellectual Property (SAIP), emphasized that the Kingdom is working towards an international treaty setting core standards for registering industrial designs. This aligns with Saudi Arabia’s strategic goals under the National Intellectual Property Strategy, launched by Crown Prince Mohammed bin Salman, which aims to position Riyadh as a global hub for intellectual property.

Since SAIP’s establishment, investments in design in Saudi Arabia have increased by 161%, reflecting growth driven by ambitious projects like NEOM and Qiddiya, which demand advanced design protections.

Al-Swailem described the conference as “diplomatic and negotiation-focused,” with member states striving to create a unified registration process, which would allow designers to protect their work across all member countries, making global design protection more accessible.

In his opening remarks, Al-Swailem highlighted that this conference is a pivotal moment—the first time in 25 years the international intellectual property community has convened to collectively support global design innovation.

He noted that Saudi Arabia is contributing actively to international IP organizations and is committed to enhancing global cooperation to support creators and innovators.

Through SAIP, the Kingdom has launched its first National Intellectual Property Strategy, a comprehensive framework to foster innovation and creativity across the nation, according to Al-Swailem. Last year, the Crown Prince announced a $340 million investment to support this strategy, reinforcing the Saudi commitment to intellectual property advancement. These efforts have led to Saudi Arabia’s rise of 18 positions in WIPO’s Global Innovation Index since 2021, placing it 46th globally and among the world’s top 50 innovation leaders.

WIPO Director General Daren Tang praised the event as a “historic moment,” applauding Saudi Arabia’s rise in the Global Innovation Index due to its concentrated efforts on intellectual property.

The proposed Design Law Treaty aims to establish a standardized legal framework for the registration and protection of design rights, covering essential elements like application details, imaging requirements, and filing and publication dates.

WIPO, comprising 193 member states, has administered international treaties on intellectual property since 1982, when Saudi Arabia joined. The organization currently oversees 26 treaties, including those on industrial property and copyright.



OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts

The OPEC logo. Reuters
The OPEC logo. Reuters
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OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts

The OPEC logo. Reuters
The OPEC logo. Reuters

OPEC cut its forecast for global oil demand growth this year and next on Tuesday, highlighting weakness in China, India and other regions, marking the producer group's fourth consecutive downward revision in the 2024 outlook.

The weaker outlook highlights the challenge facing OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia, which earlier this month postponed a plan to start raising output in December against a backdrop of falling prices.

In a monthly report on Tuesday, OPEC said world oil demand would rise by 1.82 million barrels per day in 2024, down from growth of 1.93 million bpd forecast last month. Until August, OPEC had kept the outlook unchanged since its first forecast in July 2023.

In the report, OPEC also cut its 2025 global demand growth estimate to 1.54 million bpd from 1.64 million bpd, Reuters.

China accounted for the bulk of the 2024 downgrade. OPEC trimmed its Chinese growth forecast to 450,000 bpd from 580,000 bpd and said diesel use in September fell year-on-year for a seventh consecutive month.

"Diesel has been under pressure from a slowdown in construction amid weak manufacturing activity, combined with the ongoing deployment of LNG-fuelled trucks," OPEC said with reference to China.

Oil pared gains after the report was issued, with Brent crude trading below $73 a barrel.

Forecasts on the strength of demand growth in 2024 vary widely, partly due to differences over demand from China and the pace of the world's switch to cleaner fuels.

OPEC is still at the top of industry estimates and has a long way to go to match the International Energy Agency's far lower view.

The IEA, which represents industrialised countries, sees demand growth of 860,000 bpd in 2024. The agency is scheduled to update its figures on Thursday.

- OUTPUT RISES

OPEC+ has implemented a series of output cuts since late 2022 to support prices, most of which are in place until the end of 2025.

The group was to start unwinding the most recent layer of cuts of 2.2 million bpd from December but said on Nov. 3 it will delay the plan for a month, as weak demand and rising supply outside the group maintain downward pressure on the market.

OPEC's output is also rising, the report showed, with Libyan production rebounding after being cut by unrest. OPEC+ pumped 40.34 million bpd in October, up 215,000 bpd from September. Iraq cut output to 4.07 million bpd, closer to its 4 million bpd quota.

As well as Iraq, OPEC has named Russia and Kazakhstan as among the OPEC+ countries which pumped above quotas.

Russia's output edged up in October by 9,000 bpd to about 9.01 million bpd, OPEC said, slightly above its quota.