FOR IMMEDIATE RELEASE, Singapore, Geneva, 18 May 2023.
oriGIn is glad to present today in Singapore – during the International Trademark Association Annual Meeting – its 2023 ‘GI Trends’ Panel, a survey aimed at monitoring – on a yearly basis – the major economic trends affecting, and the sentiment of, Geographical Indications (GIs) worldwide. The 2023 Panel – composed by 23 GI groups from 13 countries in the agricultural, wines, spirits and craft sectors – represents 68 billion EUR of aggregate turnover, 54 billion EUR of export, half a million direct jobs and some 600.000 km2 of land (an area larger than countries such as Germany or Spain). This offers a glimpse into the impact of the more than 10.000 GIs recognized worldwide.
“GIs represent worldwide a powerful tool for the socio-economic development of local value chains, offering meanwhile a vision for a more inclusive a sustainable development paradigm. The 2023 ‘GI Trends’ Panel figures demonstrate the enormous potential of a system that is rapidly growing. The ‘open-source’ nature of the GI system – which has the potential to bring the local to the global in a sustainable way – represents a valid alternative to protectionist trade models”, says the President of oriGIn Riccardo Deserti.
The 2023 trend topic concerns the impact on GIs value chains of high energy costs and inflation. At the beginning of 2023, most groups had positive or neutral expectations with respect to the overall economic scenario, probably determined by an increase of sales registered in 2022. However, the sector may continue to face challenges, with raising production costs (this trend is set to continue in 2023). For the majority of the interviewed GI groups, while the impact of high inflation on production costs was significant in 2022, it was to some extent mitigated on the price of final products. By continuing to implement cost-saving measures, optimizing supply chains and exploring innovative solutions, GIs can mitigate the impact of inflation and maintain competitiveness in the long run.
“In a period of major economic challenges, characterized by high inflation and raising energy and production costs, the GI sector shows once more resilience and capacity to adapt. The long-term perspective – which is part of the GI nature and reinforced by its local governance – allows GI stakeholders to find pragmatic solutions and turn challenges into opportunities. We are glad to present the results of 2023 ‘GI trends’ Panel today in Singapore, before an international audience, including a high number of Asian GI stakeholders, as Asian countries are investing time and resources in implementing GI strategies and contribute in a significant way to the diversity and resilience of the GI sector worldwide”, says Massimo Vittori, Managing Director of oriGIn.
Download the 2023 Survey Full Report.
Contact: Ms. Ida PUZONE email@example.com