Malta and China will be exchanging information about intellectual property, following the signing of a Memorandum of Understanding yesterday.

The memorandum consists of bilateral cooperation and a work plan, including sharing of information on Intellectual Property laws and policies, training of personnel and introduction of IP holding companies in Malta.

Speaking before the signing, Investment Minister Chris Cardona said intellectual property and knowledge industries were becoming the movers of the European and global economy.

However, a great number of businesses were still missing out on raising income from new technology or ideas because they are not certain about their IP rights.

Mr Cardona noted that the government had launched awareness-raising campaigns about the importance of IP. It had also kicked off a series of studies in collaboration with the private sector, which will result in solid proposals for reform and legislation that will help raise Malta’s attractiveness in the IP industry.

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