The Taipei Economic and Cultural Office (TECO), Australia and
the Australian Commerce and Industry Office (ACIO) (hereinafter
referred to as "the Parties"):

Conscious of the enormous commercial opportunities flowing from
the development of new and novel biotechnology products for the
international market;

Also conscious of the priority accorded by the governments in
the territories represented by the Parties to the development of
an internationally competitive biotechnology industry;

Noting in particular the importance attached by the governments
in the territories represented by the Parties to promotion of
two-way investment under the "Look South" policy and the Asia
Pacific Regional Operations Center;

Recognizing the complementarity that exists between the respect-
ive strengths of each territory in the field of biotechnology;

Desirous of realizing the potential for cooperation between the
companies of the territories represented by the Parties in the
biotechnology industry;

Have reached the following understandings.

Implementation and Coordination

In order to ensure the efficient and effective promotion and fa-
cilitation of investment and commercial collaboration in the bi-
otechnology industry, the following agencies will be the implem-
enting and coordinating agencies for this Memorandum :

The Industrial Development Bureau (IDB) of the Ministry of Econ-
omic Affairs and other relevant government agencies in the terr-
itory the TECO represents; and

The Australian Trade Commission (Austrade), in association with
Invest Australia of the Department of Industry, Science and Res-
ources, and other relevant government agencies in the territory
the ACIO represents.

Each Party will designate a coordination point within its office
and a representative from its Implementing Agency who will be
responsible for ensuring effective communication and implementa-
tion of this Memorandum. Where necessary and mutually determin-
ed, these designated representatives may hold working meetings
o enhance the effectiveness of their cooperation.

Scope

The scope of the Memorandum will include, but not be restricted
to, the promotion and facilitation of investment and other comm-
ercial activities in the fields of:
·medical biotechnology and pharmaceuticals;
·environmental biotechnology;
·food biotechnology; and
·biotechnology with agricultural applications.

The forms of cooperation covered by this Memorandum will include
, but not be restricted to, the following kinds of commercial
activities between companies and organisations:
·investment in research and the commercial development of biot-
echnology products in either territory;
·investment in the manufacturing of biotechnology products in
either territory;
·investment or commercial collaboration in the international
marketing of biotechnology products developed in either terri-
tory.

Strategic Objectives

The objective of promotion and facilitation activities pursuant
to this Memorandum is to maximize the development of the biotec-
hnology industries in both territories by harnessing complement-
ary strengths and capabilities. These complementarities include
their respective strengths and capabilities in research and dev-
elopment, commercialization, financing and international market-
ing. The Parties believe these complementarities provide a stro-
ng basis for mutually-beneficial strategic business partnerships
. To this end, the Parties and Implementing Agencies will make
every effort to promote and facilitate two-way investment in the
biotechnology industry.

Promotion and Facilitation

In order to achieve the objectives of this Memorandum, the Part-
ies in conjunction with the Implementing Agencies will actively
promote and facilitate investment between companies from the te-
rritories represented by the Parties to this Memorandum in the
biotechnology industry. This will include, but not be restricted
to, the following assistance.

Each Party and Implementing Agency will:

·Provide and regularly update information to the other Party
and its Implementing Agency on regulations governing investme-
nt in biotechnology in its territory and incentives available
to facilitate and assist investment in biotechnology in its
territory.
·Provide information and contacts from the biotechnology indus-
try in its territory.
·Provide information on sources of public and private investme-
nt and venture capital funding from their respective territor-
ies, and where possible encourage those potential investors to
consider biotechnology investments in the territory of the ot-
her Party.
·Assist the other Party, its Implementing Agency and companies
from the territory they represent to identify possible invest-
ment opportunities in its territory.
·Introduce companies from its territories to biotechnology inv-
estment opportunities in the territory of the other Party.
·Facilitate arrangements for biotechnology investment missions
and investment-related study visits.
·Utilize all available governmental mechanisms to streamline
and facilitate biotechnology investments in its territory.
·Encourage commercial cooperation in research and development
between companies and organizations of the territories repres-
ented by the Parties.
·Arrange workshops and seminars designed to improve understand-
ing of the investment opportunities present in the territory
represented by each Party and to promote and facilitate two-
way investment.

Intellectual Property Rights

The allocation of intellectual property rights arising out of
cooperative activities between companies and organizations purs-
uant to this Memorandum will be determined by the companies and
organizations themselves in their joint business agreement.

In the case of intellectual property arising directly from coop-
erative activities between the Parties, implementing agencies or
associated agencies, each Party will jointly determine the allo-
cation of those rights within its jurisdiction and the Parties
will jointly determine the allocation of rights in third jurisd-
ictions.

Confidentiality

Neither Party will disclose or distribute any information that
is supplied and marked, or stated to be "In-Confidence" by the
originating Party, except as, and to the extent authorized by
the originating Party.

Commencement and Duration

This Memorandum will come into effect on the date of its signat-
ure and will remain effective until otherwise decided. It may be
altered or terminated at any time by means of submitting to the
other Party a written notice at least 90 days before the sugges-
ted date of amendment or termination. Amendments will be subject
to the written mutual consent of both Parties.

The termination of this Memorandum will not affect the terms of
those activities which are in progress at the time of the notif-
ication of termination of the Memorandum.

In witness whereof, the undersigned being duly authorized there-
to, have signed this Memorandum of Understanding in the English
language

Signed in duplicate in the English language at Sanctuary Cove on
this tenth day of September, Two thousand.

For the Taipei Economic and For the Australian Commerce and
Cultural Office, Australia Industry Office

Timothy C.T. Yang Sam Gerovich
Representative Representative