Ministry of Economy Signs MoU with Seoul-based KIPO to Strengthen UAE's Intellectual Property Landscape

• Agreement Aims to Speed up Decisions on Patent Applications in the UAE
• Al-Shehhi: “The Ministry of Economy receives more than 2,000 patent applications annually demonstrating the crucial role of IP in the UAE business landscape”

Seoul-Republic of South Korea: February 9, 2014 - The UAE Ministry of Economy (MoE) has signed a memorandum of understanding (MoU) with the Seoul-based Korean Intellectual Property Office (KIPO) seeking to strengthen cooperation in the field of intellectual property (IP) for enhancing the business landscape infrastructure in the UAE.

The MoU was signed between His Excellency Eng. Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary, Ministry of Economy, and Kim Young-Min, Commissioner - KIPO, during an official meeting hosted at the KIPO headquarters in Seoul.

The agreement complements an earlier MoU signed by the MoE and KIPO in 2010. The latest agreement mandates the MOE and KIPO to collaborate further in developing intellectual property systems in the UAE and commit to substantively examining the patent applications that have been submitted from within the UAE.

Under the terms of the agreement, a technical team from KIPO will visit the UAE to examine patent applications submitted to the Ministry of Economy. A total of 2,200 applications are expected to be processed by the end of this year. The agreement will also facilitate the setting up of a Patent Unit within the Ministry of Economy in accordance with international standards. The unit will help raise the awareness of intellectual property and patents across the UAE, while promoting the exchange of information on IP-related systems and practices. The unit will also initiate patent-related programs and courses in the UAE.

His Excellency Eng. Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary, UAE Ministry of Economy, said: “The purpose of this MoU and other similar international conventions underlines the UAE’s conviction on the crucial role that intellectual property plays in the business landscape to enable innovation, build a strong economy, promote sustainable development, and attract foreign investments.

“Securing intellectual and industrial property protection is a matter of integrity for any nation. The UAE is applauded as a pioneer in protecting intellectual property rights in the region. Through our agreement with KIPO, the Ministry of Economy will continue to drive the UAE’s efforts in becoming a regional hub for patents for the benefit of entrepreneurs, inventors and innovators across the region.”

H.E. Al Shehhi said that the Ministry of Economy, in line with the UAE Vision 2021, seeks to strengthen the business environment through the development of administrative systems, laws and regulations that help shape a competitive and sustainable economy led by qualified national talent. The UAE’s commitment was articulated for the first time in the agreement signed to join the World Intellectual Property Organization (WIPO) in 1974. The country has since then followed this assurance with several similar international agreements.

Commenting on the mutual relations between the two countries, His Excellency Al Shehhi said: “Today, bilateral relations between the UAE and South Korea have witnessed a remarkable resurgence in the economic, political, and cultural domains. Under the directives of the UAE President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, our wise leadership is keen to take this strong partnership to the next level to forge further cooperation in the fields of economy and investment. As part of this priority, a UAE-South Korea Joint Committee was established earlier in June 2007, which held its first meeting in Abu Dhabi. The fourth meeting of the Committee, is scheduled to be held at the end of April, and will be chaired by His Excellency Sultan Bin Saeed Al Mansouri, Minister of Economy.”

Kim Young Min, Commissioner of the Korean Intellectual Property Office, said: “The UAE holds credible reputation for its efforts in the field of intellectual property as part of its commitment to shaping a conducive business environment that is rated as one of the best worldwide for ease of doing business. KIPO will harness its potential and services to support the UAE through deploying prominent advisers, experts and technicians to the country to review previous industrial technologies and conduct substantive examination of patent applications submitted to the Ministry of Economy.”

His Excellency Khalfan Al Suwaidi, Industrial Property director at the Ministry of Economy, said that the Ministry is keen on choosing the right strategic partner in the area of patent examination. “We evaluated a number of countries that have experience in this field, and selected the Korean Intellectual Property Office due to its rich experience and knowledge, in addition to being the best in the technical aspects of the process.”