BR100 Decreased By (-0.07%)
BR30 Decreased By (-1.13%)
KSE100 Increased By (0.09%)
KSE30 Decreased By (-0.05%)
AGHA 6.06 Increased By ▲ 0.01 (0.17%)
BECO 3.86 Increased By ▲ 0.03 (0.78%)
BML 57.10 Decreased By ▼ -1.23 (-2.11%)
BOP 28.25 Decreased By ▼ -0.10 (-0.35%)
CNERGY 12.41 Decreased By ▼ -1.23 (-9.02%)
CSIL 5.15 Decreased By ▼ -0.06 (-1.15%)
FCCL 53.00 Increased By ▲ 0.72 (1.38%)
FFL 12.77 Decreased By ▼ -0.13 (-1.01%)
FNEL 1.13 No Change ▼ 0.00 (0%)
KEL 5.75 Decreased By ▼ -0.04 (-0.69%)
KOSM 5.52 Increased By ▲ 0.01 (0.18%)
LOTCHEM 23.75 Decreased By ▼ -0.14 (-0.59%)
MLCF 91.33 Increased By ▲ 0.82 (0.91%)
NBP 157.90 Decreased By ▼ -1.82 (-1.14%)
NCPL 48.55 Decreased By ▼ -1.05 (-2.12%)
NPL 50.50 Decreased By ▼ -1.30 (-2.51%)
OGDC 305.50 Decreased By ▼ -1.28 (-0.42%)
PACE 9.19 Increased By ▲ 0.04 (0.44%)
PAEL 32.29 Decreased By ▼ -0.04 (-0.12%)
PIBTL 12.81 Decreased By ▼ -0.12 (-0.93%)
PPL 213.00 Decreased By ▼ -0.93 (-0.43%)
PRL 87.26 Decreased By ▼ -9.70 (-10%)
PTC 44.60 Decreased By ▼ -0.59 (-1.31%)
SSGC 22.40 Decreased By ▼ -0.13 (-0.58%)
TBL 9.10 Increased By ▲ 0.08 (0.89%)
TELE 6.48 Decreased By ▼ -0.24 (-3.57%)
TPL 24.90 Decreased By ▼ -1.01 (-3.9%)
TPLP 12.65 Increased By ▲ 0.05 (0.4%)
TREET 23.35 Decreased By ▼ -0.11 (-0.47%)
TRG 52.00 Increased By ▲ 0.04 (0.08%)
World

EU, UK raise doubts about Covid weapons patent waiver

  • Agreements at the WTO require the consensus backing of all 164 member states.
Published Updated
By

GENEVA: The EU, Britain and Japan continued to voice doubts at the WTO on Monday about a proposed intellectual property waiver on Covid-19 products such as vaccines, a Geneva trade official said.

Proposals to initiate text-based discussions on an IP waiver, rather than more general talks, gained traction at an informal meeting of the World Trade Organization's Agreement on Trade-Related Aspects of IP Rights (TRIPS) council, the official said.

The United States, China, Ukraine and New Zealand have thrown their weight behind the bid to waive certain TRIPS provisions relating to the medical prevention, containment or treatment tools needed to battle Covid-19, said the official.

However, some members "continued to express doubts about the convenience of starting negotiations and asked for more time" to analyse the proposal, the official said.

They included the European Union, Australia, Brazil, Britain, Japan, Norway, Singapore, South Korea, Switzerland and Taiwan.

Agreements at the WTO require the consensus backing of all 164 member states.

India and South Africa came forward with the original idea in October. They have submitted a revised proposal, which currently has the express support of 63 WTO members.

The new text which they and other backers have circulated says the waiver should apply not only to vaccines, but to treatments, diagnostics, medical devices and protective equipment, along with the material and components needed to produce them.

It also says the waiver should last for "at least three years" from the date it takes effect, following which the WTO's General Council should determine whether it should be prolonged.

Comments

Comments are closed for this article.