Establishment of an Emirati Trust Fund for Intellectual Property Activities in Developing Countries

Media In – Geneva 29 September

The Ministry of Economy signed a memorandum of understanding with the World Intellectual Property Organization (WIPO) on the establishment of an Emirati trust fund for IP activities in LDCs and developing countries. UAE Trust Fund is considered the first Arab FAO, which aims to support development goals in developing and less developed countries where the Fund focuses on projects and activities that support the implementation of the WIPO agenda on development as well as initiatives that address specific global challenges in the field of intellectual property and also promote the development of property systems Intellectual property in LDCs and developing countries, thereby strengthening efforts to develop the intellectual property system and supporting the goals of sustainable development. The Fund places priority on funding areas related to the vital role of this sector in promoting economic and trade activities, technological development, the development of creative industries, SMEs and training and education. Engineer Mohammed Ahmed Al Shehhi, Undersecretary of the Ministry of Economy for Economic Affairs, said the United Arab Emirates since its inception has adopted a newly developed approach based on openness, transparency and embrace advanced and leading and respect for the diversity of cultures and the establishment of tolerance and the consolidation of balance policies gender values ​​ideas, which placed today among the largest Arab economies and one of the most important The main axes on the global trade routes and the first destination for attracting investments regionally and among the largest globally. He explained Shehhi during his speech at the opening of the effectiveness of the UAE today by the World Organization for Intellectual Property / WIPO / that from this standpoint complemented by state career development through an ambitious vision based on a forward-looking and transition to a sustainable diversified economy based on knowledge and innovation and consider the state in this regard to the development of a comprehensive and integrated system To protect intellectual property rights. In turn, Francis Gray Director General of the World Intellectual Property Organization said that the UAE has achieved a remarkable achievement over the past years, which was reflected in the dynamic state enjoys in terms of growth and development. He added that the UAE is one of the most active in the World Intellectual Property Organization states specifically during the past ten years, which has seen its accession to several treaties and conventions of the WIPO, especially in the areas concerned with the empowerment of women within the intellectual property and green technology and creative industries and other fields that serve the goals of development areas Sustainable development.