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World Trade Organisation member states agreed on Wednesday to intensify talks toward improving access to COVID-19 products, as developing nations push for a proposal to ease patent and other legal protections on coronavirus vaccines - and some wealthier countries remain stiffly opposed. TRIPS Council, a WTO panel focusing on intellectual property, which includes patents on technological know-how like vaccines and the processes to manufacture them, wrapped up a two-day meeting on Wednesday with an agreement to start a text-based process to pull together proposals about improving the fight against COVID-19 through the Geneva-based trade body s intricate system of rules. TRIPS is Trade-Related Aspects of Intellectual Property Rights Agreement. India, in last informal meeting of TRIPS Council, had urged all members to begin text-based negotiations on the waiver proposal. India and more than 60 other nations had sought a TRIPS waiver to increase vaccine manufacturing.
International Business News: World Bank president David Malpass said on Tuesday the bank does not support waiving intellectual property rights for Covid-19 vaccines at the World T
COVID: TRIPS Council agrees to start text-based talks on patent waiver proposal
The TRIPS Council of the World Trade Organization WTO on Wednesday agreed with consensus to start text-based negotiations on a proposal submitted by India and South Africa seeking patent waivers to deal with the COVID-19 crisis, an official said.
PTI | New Delhi | Updated: 09-06-2021 19:33 IST | Created: 09-06-2021 19:33 IST
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The TRIPS Council of the World Trade Organization (WTO) on Wednesday agreed with consensus to start text-based negotiations on a proposal submitted by India and South Africa seeking patent waivers to deal with the COVID-19 crisis, an official said. The two-day meeting of the council concluded on Wednesday. India has earlier emphasised on the importance of infusing certainty during such a crisis by agreeing to initiate text-based talks on the proposal.