ABU DHABI, (Pakistan Point News - 31st Mar, 2021) The UAE has joined the "Budapest Treaty on the International Recognition of the Deposit of Microorganisms for the Purposes of Patent Procedure" and the "Strasbourg Agreement Concerning the International Patent Classification."
The decision to join the two treaties is in line with the vision and directives of the country’s leadership and its economic objectives for the next 50 years. It will also support the national efforts to establish a competitive knowledge-based economy, enhance the country’s competitiveness in the area of intellectual property rights, and help create an environment that motivates research, development and innovation.
Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, stressed that this decision is an important step towards developing a legal intellectual property framework and legislative environment that support innovation and patents.
"Joining the Budapest Treaty will support the creation of an environment that facilitates inventions and scientific research in the field of microorganisms, which will motivate growth based on innovation in related areas, such medicine, food, agriculture, biotechnology, genetic engineering and pharmaceuticals. It will also encourage international companies working in these areas to deposit patents related to microorganisms in the country," he said.
Joining the Strasbourg Agreement will facilitate patent classification and increase the number of patents registered in the country, as well as improve their quality, which will help diversify economic sources based on knowledge and strengthen the country’s global partnerships in intellectual property, he added.
After joining the Budapest Treaty, Emirati inventors and researchers will be able to benefit from the services of the International Depositary Authority (IDA) recognised by the World Intellectual Property Organisation (WIPO).
The UAE was ranked first in the Arab region and 34th in the world in the Global Innovation Index 2020.
