Potential trade effects of geographical indications

Geographical indications (GI) are a value that is added to a product to signify its heritage and uniqueness to make itstand out in the market space and give it a competitive edge. GI is one of the subtypes in the intellectual property(IP) space in the global trade. It is governed by the World Intellectual Property Organization (WIPO). Issues andcontroversies are a very common phenomenon surrounding GI, mostly amongst the producers but rarely reachingthe customers. In terms of the consumers, GI-vouched products provide quality, reputation, and exclusivity toenable them to purchase with confidence. In present practice, GI is widely used in Agri-based products that requirespecific manufacturing skills and traditions. According to WIPO reports from 2018, 80% of the accounted GIs arefor agricultural products and foodstuffs, with the remaining 20% being for non-agri-based products. This proposalis going to view the prospects of both Agri-based and non-agri-based producers’ problems across regions andsuggest one common unified approach to overcome associated state problems strategically through the economictheory of clubs.