Draft Memorandum of Understanding between Eurasian Economic Commission and Eurasian Patent Organisation Approved

The document will allow to coordinate efforts aimed at the development of national and regional systems of security, protection and use of intellectual property in the Eurasian region and will have a positive impact on the further development of integration processes in the field of intellectual property. According to the authors of the draft, the development of cooperation between the EEC and the Eurasian Patent Organisation should ultimately result in reduction in the volumes of counterfeit products and improvement of product quality for the population.
"Today, our countries, like never before, need create a common legal framework for investors to have guarantees and intellectual protection of their products within the whole space of the EAEU," the Member of the Board - Minister in charge of Economy and Financial Policy of the EEC, Timur Suleimenov, said.
Providing legal protection for intellectual property in the countries of the Eurasian Economic Union, and the member states of the Eurasian Patent Convention will have a positive effect on attracting investment in the Eurasian region and will contribute to the development of innovative high-tech productions.
Signing of the Memorandum is planned in short-term perspective.
Press-release at the official Eurasian Economic Commission web-site