USTR discusses TRIPS waiver proposal

The TRIPS Agreement is a minimum standards agreement, which allows members to provide more extensive protection of intellectual property if they so wish.

Washington: US Trade Representative Katherine Tai, in a virtual meeting with GAVI’s CEO Dr. Seth Berkley, discussed, among other things, the proposed waiver of certain provisions of the WTO’s agreement on intellectual property rules for the manufacture of coronavirus vaccines.

In the virtual meeting with Berkley on Friday, Tai discussed increasing vaccine production, global health issues, and the proposed waiver of certain provisions of the World Trade Organization Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) for the Covid-19 pandemic, the USTR said in a statement.

The TRIPS Agreement is a minimum standards agreement, which allows members to provide more extensive protection of intellectual property if they so wish. Tai expressed her appreciation for the important role GAVI has played in securing and distributing vaccines for developing countries through COVAX and other initiatives, it said.

Tai highlighted her commitment to using trade policy to save lives in the pandemic and ensure that the United States, and the world, are better prepared in the future. She also welcomed Berkley’s views on how to accelerate the rollout and distribution of vaccines to developing countries, the USTR said.

The virtual meeting comes ahead of a May 5 meeting of the World Trade Organisation’s (WTO) General Council, which is likely to discuss a proposal on the matter by India and South Africa.

While wealthy nations are able to purchase more shots, international efforts to get the vaccine to the rest of the world, like the World Health Organisation’s so-called COVAX effort, are falling woefully short of increasing the global supply to a level that is needed to stomp out the virus.

Simultaneously, another group of 18 Republican lawmakers has written a separate letter to Biden against such a proposal arguing that the US would lose vital research and development capabilities needed to prepare for future pandemics and other health security threats.

Source: Telangana Today