By Caribbean News Global 
OTTAWA, Canada – On Thursday, May 6, Mary Ng, minister of small business, export promotion and international trade, and Rodrigo Yáñez, Chile’s under-secretary for international economic relations, signed a memorandum of understanding (MOU) to foster collaboration on intellectual property (IP) and innovation issues.
This MOU bolsters Canada and Chile’s shared approach to balanced IP policy-making by creating a formal mechanism for the 2 countries to enhance bilateral engagement on IP under the Canada-Chile Free Trade Agreement.
The MOU encourages discussion of small and medium-sized enterprises’ innovation, IP awareness, growth, and prosperity. It also promotes inclusivity for under-represented groups and supports Canada and Chile’s coordination of IP discussions in various multilateral forums, such as the World Intellectual Property Organization, the World Trade Organization and the Asia-Pacific Economic Cooperation.
At the MOU’s virtual signing ceremony, minister Ng underscored Canada’s international IP objective of promoting balanced rules that support innovation and access to IP systems by small and medium-sized enterprises and under-represented groups.
This partnership builds on the Canada-Chile Partnership Framework, signed in 2007 and renewed in 2013, which serves as a road map for the expansion and deepening of collaboration between Canada and Chile in various priority sectors, such as innovation, science and technology, as well as in trade and other commercial interests.
“In today’s knowledge-based economy, inventions, new technologies, and unique processes have increasing value in the marketplace. By creating opportunities for like-minded countries to collaborate, enhance their mutual understanding of intellectual property, and share best practices, we are ensuring that Canadian businesses of all sizes have the crucial supports they need today and well into the future,” said, minister Ng.
The government of Canada is committed to supporting innovative Canadian businesses of all sizes as they bring their made-in-Canada products and services to the world stage, understanding the key role trade will play in their growth and in Canada’s economic recovery from COVID-19.