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Trade
“Arcane WTO Pact Takes Center Stage in Vaccine Equity Debate” [Bloomberg]. “n the World Trade Organization’s alphabet soup vocabulary, one particular acronym is gaining a lot of attention: TRIPs. Shorthand for the Geneva-based group’s agreement on trade-related aspects of intellectual-property rights, TRIPs sets enforceable rules for the protection of trademarks, designs, inventions and other intangible goods in international trade. Today this arcane 1995 agreement has re-entered the political lexicon as a potential tool to save lives and ensure fairness in the pandemic. India and South Africa have offered a proposal that seeks a broad waiver from the TRIPs agreement’s rules on the production and export of vaccines and other critical medical goods needed to combat the Covid-19 virus. On its face, it’s a simple request. Poorer nations without the means to develop vaccines and other medical technologies should be allowed to do everything they can to treat their cit
December 22, 2020
The substantive provisions of Hong Kong’s Competition Ordinance (“Ordinance”) came into force in December 2015. This note looks at the main achievements in the first five years and some of the challenges laying ahead.
The main achievements of the Hong Kong Competition Commission (“Commission”) are first and foremost building up from scratch a competent and trustworthy institution. The Commission has hired seasoned enforcers from overseas with impeccable reputations which has brought immediate credibility to the Commission. It has embarked on a wide range of educational activities, including seminars, advertising and publishing guidelines detailing its enforcement priorities and interpretation of the Ordinance. The Commission has also adopted a world-class leniency programme to facilitate the prosecution of cartels, its main priority. The Commission proceeded to win its first case in court thereby confirming that it is a force to be reckoned with.