Published 14:29 IST, February 25th 2021
Pressure mounts on WTO to consider India's proposed IP rights' waiver on COVID-19 vaccines
Pressure has been mounting on the WTO to seriously consider a proposal by India & South Africa for a TRIPS waiver on COVID-19 vaccines.
- India News
- 3 min read
As the world struggles to counter the impact of COVID-19 pandemic, pressure has been mounting on the World Trade Organisation (WTO) to seriously consider a proposal by India and South Africa for Trade-Related Aspects of Intellectual Property Rights (TRIPS) waiver on coronavirus vaccines.
Often described as 'Pharmacy of the World', India is supplying vaccines to more than 70 countries on a humanitarian and commercial basis. The country is marching steadily towards world leadership in ensuring affordable vaccines for all.
India is also spearheading the move to get a TRIPS waiver at the WTO. As many as 57 WTO members have joined in India's leadership to demand a waiver of intellectual property on COVID-19 vaccines.
If India succeeds in getting the proposed waiver on TRIPS, it will substantially reduce the cost of vaccines and enable free flow of medicines, easy technology transfer across the world. However, getting the proposal cleared is not so easy as many western countries are opposing the move.
India and South Africa's proposal got further boosted after a group of least developed countries (LDC) lent its support to the proposal. Moreover, cross-party groups in Europe have been urging the European Council to drop their opposition to the TRIPS waiver proposal.
European MPs ask EU to support TRIPS waiver proposal
According to media reports, "In a declaration to the European Commission and European Council, a cross-party group of 115 Members of the European Parliament (MEPs) have urged the European Commission and the European Council to drop their opposition on the TRIPS waiver proposal at the WTO."
In the declaration, MEPs stressed that the EU's open opposition to the TRIPS waiver risks exacerbating a dangerous North-South divide. The call for a TRIPS waiver from MEPs, representing all 27 Member States, comes the day before a meeting of the European Council scheduled on February 25, and the crucial decision to be made by all Member States at the WTO General Council on March 1 to 2.
"A group of lawmakers from the Democratic Party wants US President Joe Biden to support the TRIPS waiver proposal that seeks to temporarily suspend several provisions in the WTO's TRIPS Agreement in combating the COVID-19 pandemic," said ANI, quoting a source familiar with the development.
Around 90 countries have broadly supported the TRIPS waiver proposal at the WTO. Prime Minister Narendra Modi also announced that many more vaccines from India will be delivered around the world in this hour of the COVID-19 crisis.
(With inputs from ANI)
Updated 14:29 IST, February 25th 2021