On September 13th, 2017, the Israeli Prime Minister Benjamin Netanyahu and the Colombian President Juan Manuel Santos signed a Memorandum of Understanding on Scientific Cooperation.
Through this agreement, the Administrative Department of Science, Technology and Innovation of Colombia (Colciencias) and the Ministry of Science and Technology of Israel will cooperate with each other to promote, develop and strengthen innovation in both countries. The signing of the memorandum is based on the Convention on Cultural Relations between the State of Israel and the Republic of Colombia, signed in Bogotá on June 11, 1962.
With this agreement, both Israel and Colombia are committed to promoting research, technology transfer and knowledge as well as the exchange of research in the areas that both countries consider important for achieving sustainable growth. Likewise, the idea is that through this agreement the two nations can organize workshops, events, competitions or conferences that promote innovation.
The Memorandum will be valid for three years of mutual agreement and may be extended for an additional period of three years, provided that the intention is expressed in writing to renew it six months before the expiration date.
The signing of this agreement is important for the strengthening of intellectual property, since one of the reasons that justify the patents is the fact that they promote the economic and technological development, as well as promote the competition, because they imply a financial motivation for the inventors in return of the disclosure of their inventions to the public.
Given the rapid technological innovation and the current social and economic challenges, the role, value and impact of the patent system must be constantly adjusted and applied in such a way as to achieve an ideal balance between the interests of the rights holders, the new market players and the general public. In this way, we hope that this agreement will promote intellectual protection through patents, for which we will be willing to work in cooperation with our colleagues in Israel, as we have been doing.