Singapore and Kazakhstan sign new IP deal
Singapore and Kazakhstan have signed an agreement that sees the two companies cooperate more closely on IP matters.
According to a press release, the Intellectual Property Office of Singapore (IPOS) said it would collaborate with the Kazakh finance ministry and the Astana Financial Services Authority (AFSA) to develop a “comprehensive IP ecosystem within the Astana International Financial Centre (AIFC)”.
Daren Tang, chief executive of IPOS, said that “as the economic ties between our countries and regions grow, we have found a collective interest in using IP and innovation to drive high value economic growth”.
“Our partnership with AFSA and the Ministry of Justice of Kazakhstan is testament to Singapore’s growing importance as a global hub to service innovation flows and support innovative enterprises to grow through the strategic use of their intangible assets and IP,” Tang added.
Under the terms of the memorandum of understanding, “IPOS will lend its deep IP expertise and services as a partner and advisor to the AIFC in building its IP and innovation ecosystem,” the press release said.
IPOS also said it would also look to provide IP management consultancy services and training programmes as part of the deal.
Trade between Kazakhstan and Singapore has tripled over the last decade. The two countries are currently participating in negotiations on a Eurasian Union-Singapore Free Trade Agreement, which includes provisions on IP rights.
The latest agreement follows a bilateral investment treaty between the two countries, signed last November.
Assylbek Davletov, the chief fintech officer at AFSA, said, “the cooperation arrangement is an important milestone in AIFC’s ambition to develop an advanced IP ecosystem and to be a leading player in the Eurasian region in the field of IP protection which encourages regional companies to use AIFC as a base for launching their innovative products and services”.
Did you enjoy reading this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
Today's top stories:
USPTO drops controversial ‘proof of residence’ rule
