In an effort to make the country a more attractive destination for Japanese companies and investors, the Ministry of Industry and Handicrafts and the Japan Intellectual Property Association (JPAA) are finalising the details of a memorandum of understanding on the recognition of Japanese patents.
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Yoshihiko Kido, JPAA’s vice president, who is leading a delegation of Japanese businesspeople in Cambodia, met with Minister of Industry and Handicraft Cham Prasidh on Monday to discuss the agreement on intellectual property.
According to Mr Kido, the MoU has been in the making for a year, adding that it will be ready to be signed soon, thou he stopped short of providing a specific date.
He said the agreement will provide guidance in commercial arbitration cases in which Japanese intellectual property is involved, adding that the number of Japanese lawyers and judges in the kingdom is increasing.
Minister Prasidh said the agreement will enable the ministry and Cambodian law practitioners to benefit from JPAA’s knowledge and experience in the field of intellectual property law.
“The cooperation will allow us to gain experience, raise our skill level and attract more Japanese investors to Cambodia,” he said.
”Under the collaboration, Japan will share with us innovations in the field of intellectual property.”
Japan is the third largest investor in the country. Since 1992, it has also been Cambodia’s biggest donor, giving more than $2 billion in official development assistance.