TAIPEI (Taiwan News) — Taiwan and Israel have signed memorandums of understanding to cooperate on intellectual property and patent applications, the Ministry of Economic Affairs said Monday.
The signing took place at the 15th edition of bilateral economic and technology cooperation talks by video conferencing. Deputy Economics Minister Cynthia Kiang (江文若) represented Taiwan, with Trade Commissioner Roey Fisher attending for Israel.
The Patent Prosecution Highway Mottainai will allow the two countries to speed up the review of patent applications without having to repeat work already completed by one party, per CNA. The agreement will take effect on Jan. 2. Taiwan has already concluded similar accords with the US, Japan, South Korea, France, Spain, Poland, and Canada.
The ministry’s Taiwan Intellectual Property Office emphasized the country’s advantages in semiconductors and information and communication technology. Israel, on the other hand, excels in defense technology, cybersecurity, biotechnology, AI, and healthcare.
Bilateral trade totaled NT$84.9 billion (US$2.72 billion) for the period from January to October, an increase of 38% from the same period last year, the Ministry of Economic Affairs said. Bilateral investments from January to September reached NT$6.55 billion, with Taiwan mostly investing in semiconductors, electronic parts, and optoelectronics.
