Saudi Arabia Brings Together WIPO’s Intellectual Property Community Outside Geneva for 1st Time

CEO of the Saudi Authority for Intellectual Property Dr. Abdulaziz Al-Suwailem addresses the audience. (Asharq Al-Awsat)
CEO of the Saudi Authority for Intellectual Property Dr. Abdulaziz Al-Suwailem addresses the audience. (Asharq Al-Awsat)
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Saudi Arabia Brings Together WIPO’s Intellectual Property Community Outside Geneva for 1st Time

CEO of the Saudi Authority for Intellectual Property Dr. Abdulaziz Al-Suwailem addresses the audience. (Asharq Al-Awsat)
CEO of the Saudi Authority for Intellectual Property Dr. Abdulaziz Al-Suwailem addresses the audience. (Asharq Al-Awsat)

Saudi Arabia is gathering the global intellectual property community in Riyadh to shape the future of design rights at the Diplomatic Conference for the Design Law Treaty. This event marks the first time in over a decade that the World Intellectual Property Organization (WIPO) has held a diplomatic conference outside Geneva, and it is also the first such event hosted in Saudi Arabia and the Middle East.

The conference represents the final phase of negotiations to establish a treaty aimed at simplifying design protection processes by standardizing international registration requirements.

Dr. Abdulaziz Al-Swailem, CEO of the Saudi Authority for Intellectual Property (SAIP), emphasized that the Kingdom is working towards an international treaty setting core standards for registering industrial designs. This aligns with Saudi Arabia’s strategic goals under the National Intellectual Property Strategy, launched by Crown Prince Mohammed bin Salman, which aims to position Riyadh as a global hub for intellectual property.

Since SAIP’s establishment, investments in design in Saudi Arabia have increased by 161%, reflecting growth driven by ambitious projects like NEOM and Qiddiya, which demand advanced design protections.

Al-Swailem described the conference as “diplomatic and negotiation-focused,” with member states striving to create a unified registration process, which would allow designers to protect their work across all member countries, making global design protection more accessible.

In his opening remarks, Al-Swailem highlighted that this conference is a pivotal moment—the first time in 25 years the international intellectual property community has convened to collectively support global design innovation.

He noted that Saudi Arabia is contributing actively to international IP organizations and is committed to enhancing global cooperation to support creators and innovators.

Through SAIP, the Kingdom has launched its first National Intellectual Property Strategy, a comprehensive framework to foster innovation and creativity across the nation, according to Al-Swailem. Last year, the Crown Prince announced a $340 million investment to support this strategy, reinforcing the Saudi commitment to intellectual property advancement. These efforts have led to Saudi Arabia’s rise of 18 positions in WIPO’s Global Innovation Index since 2021, placing it 46th globally and among the world’s top 50 innovation leaders.

WIPO Director General Daren Tang praised the event as a “historic moment,” applauding Saudi Arabia’s rise in the Global Innovation Index due to its concentrated efforts on intellectual property.

The proposed Design Law Treaty aims to establish a standardized legal framework for the registration and protection of design rights, covering essential elements like application details, imaging requirements, and filing and publication dates.

WIPO, comprising 193 member states, has administered international treaties on intellectual property since 1982, when Saudi Arabia joined. The organization currently oversees 26 treaties, including those on industrial property and copyright.



Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
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Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo

Oil prices extended gains on Friday, heading for a weekly uptick of more than 4%, as the Ukraine war intensified with Russian President Vladimir Putin warning of a global conflict.
Brent crude futures gained 10 cents, or 0.1%, to $74.33 a barrel by 0448 GMT. US West Texas Intermediate crude futures rose 13 cents, or 0.2%, to $70.23 per barrel.
Both contracts jumped 2% on Thursday and are set to cap gains of more than 4% this week, the strongest weekly performance since late September, as Moscow stepped up its offensive against Ukraine after the US and Britain allowed Kyiv to strike Russia with their weapons.
Putin said on Thursday it had fired a ballistic missile at Ukraine and warned of a global conflict, raising the risk of oil supply disruption from one of the world's largest producers.
Russia this month said it produced about 9 million barrels of oil a day, even with output declines following import bans tied to its invasion of Ukraine and supply curbs by producer group OPEC+.
Ukraine has used drones to target Russian oil infrastructure, including in June, when it used long-range attack drones to strike four Russian refineries.
Swelling US crude and gasoline stocks and forecasts of surplus supply next year limited price gains.
"Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price upside, and the price elasticity of OPEC and shale supply limiting price downside," Goldman Sachs analysts led by Daan Struyven said in a note.
"However, the risks of breaking out are growing," they said, adding that Brent could rise to about $85 a barrel in the first half of 2025 if Iran supply drops by 1 million barrels per day on tighter sanctions enforcement under US President-elect Donald Trump's administration.
Some analysts forecast another jump in US oil inventories in next week's data.
"We will be expecting a rebound in production as well as US refinery activity next week that will carry negative implications for both crude and key products," said Jim Ritterbusch of Ritterbusch and Associates in Florida.
The world's top crude importer, China, meanwhile on Thursday announced policy measures to boost trade, including support for energy product imports, amid worries over Trump's threats to impose tariffs.