Enforcement of the law, the Access to Biological Resources and Benefit Sharing Act 2017 can ensure that the country benefits when biological resources found in the country are developed into products of value, said Energy and Natural Resources Minister Shamsul Anuar Nasarah.

He said enforcement of the law could help eradicate biopiracy, where the country’s biological resources are taken and developed without permission and the country does not benefit from it.

“Malaysia is one of 12 countries in the world that is rich in mega-biodiversity resources. The enforcement of this act is important because this treasure has great potential for the development and creation of new products in the pharmaceutical and nutraceutical industries.

“It includes medicine, supplements and cosmetic products,” he said in a statement today.

At the same time, he said the enforcement of this Act could also generate financial royalties, fees for research permits and patent issuance from the commercialisation of products obtained from biological sources.

The non-financial benefits that can be gained from the enforcement of this Act include the sharing of research and development findings; training through research exchanges and collaborative research; as well as employment opportunities for the community.