PHNOM PENH: Ministry of Commerce of Cambodia has signed a Memorandum of Understanding (MoU) with the Korean Intellectual Property Office (KIPO) to strengthen intellectual property cooperation, especially to establish a general framework and flexibility in facilitating bilateral cooperation in the field of intellectual property.

H.E. Mrs. Cham Nimul, Minister of Commerce and Chairperson of the National Committee for Intellectual Property of Cambodia and Mr. KIM Shi Hyeong, Acting Head of KIPO, were the signatories.

The MoU signing ceremony took place in Seoul, the Republic of Korea on the afternoon of May 13 during the meeting between H.E. Mrs. Cham Nimul and Mr. KIM Shi Hyeong to discuss and exchange views on key issues, enhancing intellectual property (IP) cooperation training, according to the Ministry of Commerce.

In the meeting, H.E. Minister highlighted the importance of cooperation between the Ministry of Commerce and KIPO, which yielded remarkable results over the years particularly the signing of the MoU on Intellectual Property Cooperation, which is scheduled to be signed in the presence of the Leaders of the two countries.

H.E. Minister also highlighted the Royal Government of Cambodia’s commitment to further strengthening the protection and implementation of IP to promote the development of new products and services, creation and innovation to ensure a fair and competitive business and investment environment through the National Intellectual Property Policy 2023-2028 as a roadmap for IP development.

In the same afternoon, the Cambodian commerce minister also met with Mr. Yu Jeoung Yeol, President and CEO of KOTRA and colleagues.

Both sides highly appreciated the fruitful outcomes of the cooperation between Ministry of Commerce and KOTRA to strengthen and deepen economic and trade cooperation between the two countries, especially to encourage Korean investors to seek more investment and business opportunities in Cambodia by focusing on the high-value-added sectors for the production and economic growth such as digital technology, electronic and automotive components, and agriculture and food processing.