WIPO/GRTKF/IC/16/INF/8 Annex, page 3 The formulation of this policy was therefore aimed at encouraging inventors, innovators and creators to work hard so as to reap the benefits of intellectual property rights, for example, through payment of royalties. The ethical basis of this policy, in principle, with regard to appropriate Intellectual Property protection was to promote policy objectives that are consistent with widely accepted ethical norms and values. In this regard the policy will endevour to reflect and promote an inherent entitlement for reward and recognition of one's intellectual and creative contributions on one hand while on the other, promote a strong utilitarian flavor to Intellectual Property law and policy, as a conscious tool to promote social welfare. This policy has specifically devoted two chapters to deal with the protection of TK, GR and Expressions of Folklore. 5. Regional Ip Policies (Comesa Policy) Although there have not been many regional policies dealing with IP, Common Market for Eastern and Southern Africa (COMESA) came up with a regional policy which has a bearing on intellectual property vis-à-vis traditional knowledge. Currently, there is a Policy formulated by COMESA which deals with IP and Trade. This policy has also encompassed the protection of traditional knowledge and IP. The policy recognized that traditional knowledge and innovation systems have contributed significantly to the present body of knowledge possessed by various stakeholders including scientists and researchers. The recent developments in biotechnological sciences and rise in patents in the field of biotechnology have put tremendous pressure on the TK often located in developing countries including COMESA Member States. The policy recognizes that a lot of money is raised from genetic resources. However, there is rampant bio-piracy in the region and this has raised a lot of concern. For this reason, the policy has stipulated the following as some of the strategies that need to be undertaken by member states in the Eastern and Southern African region: − Promote the use of TK, genetic resources, and folklore including the rights of TK, GR and Folklore holders and actively ensure they are duly rewarded; − Secure the protection of TK, GR and Folklore through IP or sui generis systems to prevent misappropriation, misuse, and exploitation of TK, GR and Folklore; − Utilize advantages created by biotechnology to exploit and enhance TK, GR and Folklore within COMESA Member states and where necessary through joint ventures alliances or technology transfer and licensing; − Encourage COMESA Member states to ratify or accede to and effectively implement international treaties such as the convention for Biological Diversity and international treaty on plant genetic resources for food and agriculture (ITGRFA) that promote the protection of TK; and − Cooperate and collaborate within and outside COMESA on issues regarding TK, GR and Folklore. It is the view of COMESA that when member states adopt these measures and strategies, TK, GR and Expressions of Folklore will have adequate protection.