A World Trade Organization (WTO) panel has agreed to begin text-based negotiations to take forward India and South Africa’s proposals on patent waiver for Covid-19 vaccines and drugs.
The development comes in the backdrop of a two-day meeting of the Trade-Related Intellectual Property Rights (TRIPS) council that concluded on Wednesday.
The chair has suggested reaching a conclusion by July 21, when the General Council is scheduled to meet. Meanwhile, India will engage with all members on line-by-line text negotiations, a person aware of the matter said. There was no objection on the matter from any member nation to move to text-based negotiations.
In October last year, India and South Africa had submitted a joint proposal for waiving some sections of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement, including copyrights, patents, to help more countries, especially middle and low income nations to access vaccines, amid the Covid-19 crisis. Some developed nations such as European Union, Australia, the UK among others have opposed the proposal.
A revised proposal was submitted last month. According to the revised proposal of the 62 co-sponsors, the waiver should be in force for at least three years from the date of the decision on the matter.
The deadline to conclude negotiations will be at the end of July, the person added.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
Source link
