Azerbaijan-Türkiye business forum held on November 4, 2022 with the participation of the Prime Minister of the Republic of Azerbaijan and the Vice President of the Republic of Türkiye within the framework of the visit of the Vice President of the Republic of Türkiye Fuat Oktay to Azerbaijan. A Memorandum of Understanding on the protection of industrial property was signed at the forum between the Intellectual Property Agency of the Republic of Azerbaijan and the Turkish Patent and Trademark Office (Türkpatent). The document was signed by Mr. Sanan Tapdigov, the Member of the Board of Intellectual Property Agency, and Mr. Cemil Bashpinar, the Chairman of Türkpatent.

The Memorandum of Understanding aims to contribute to the development of economic, scientific and technological cooperation between our countries, to provide more favorable conditions for the protection and provision of intellectual property rights in Azerbaijan and Türkiye, to encourage investment in innovation for the development of a strong national and global economy, to build a knowledge-based society and to strengthen the spirit of entrepreneurship through intellectual property for the application of new technologies, to strengthen existing intellectual property systems by ensuring regular exchange of information and good practices between institutions and organizing joint activities.

According to the Memorandum of Understanding, the parties agreed to exchange information on national legislation and practices in the field of intellectual property and to develop concrete cooperation activities, to cooperate to ensure the registration and effective protection of the rights of the owners of intellectual property rights in Azerbaijan and Türkiye, to develop opportunities for joint cooperation with third countries and international organizations to ensure effective protection of industrial property at the regional and international level, to form a joint approach in international projects in the field of industrial property, to exchange information and experience on the work done for the purpose of developing public opinion and raising awareness in the field of industrial property, to organize joint activities for this purpose,