WTO's TRIPS Council to discuss revised proposal of IPR waiver to deal with COVID-19

The TRIPS Council of the World Trade Organization will discuss a revised proposal submitted by 62 co-sponsors, including India, South Africa, and Indonesia, seeking patent waivers to manufacture COVID-19-related medical products, an official said. In October 2020, India and South Africa had submitted the first proposal suggesting a waiver for all World Trade Organization (WTO) members on the implementation of certain provisions of the TRIPS Agreement in relation to the prevention, containment or ..

The agreement on Trade-Related Aspects of Intellectual Property Rights or TRIPS came into effect in January 1995. It is a multilateral agreement on intellectual property (IP) rights such as copyright, industrial designs, patents and protection of undisclosed information or trade secrets.



According to the revised proposal, the waiver should be in force for at least three years from the date of the decision on the matter.

The co-sponsors have stated that the duration has to be practical for manufacturing to be feasible and viable.

The revised proposal will now be discussed in the TRIPS Council," the official added.

Read more: https://economictimes.indiatimes.com/news/economy/foreign-trade/wtos-trips-council-to-discuss-revised-proposal-of-ipr-waiver-to-deal-with-covid-19/articleshow/82879150.cms

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