WTO Finished Without TRIPS Waiver

By Jomo Kwame Sundaram and Anis ChowdhuryKUALA LUMPUR and SYDNEY, Nov 16 2021 (IPS) Quickly enabling greater and more affordable production of and access to COVID-19 medical needs is urgently needed in the South. Such progress will also foster much needed goodwill for international cooperation, multilateralism and sustainable development. Jomo Kwame SundaramThe World Trade Organization (WTO) will soon decide on a conditional temporary waiver of Trade-Related Intellectual Property Rights (TRIPS). The waiver was proposed by South Africa and India on 2 October 2020. Two-thirds of the 164 WTO members – mainly developing countries – support it. But sustained European efforts – of Switzerland, the UK and the EU, led by Germany – have blocked progress ahead of the WTO ministerial starting 30 November. Meanwhile, ongoing text-based discussions seem to be leading nowhere. IP not needed for innovation Affordable vaccines and drugs have been crucial for eliminating infectious diseases such as tuberculosis, HIV-AIDS, polio and smallpox. But despite strong evidence to the contrary, advocates insist intellectual property rights (IPRs) are needed to incentivize innovation. Development of COVID-19 vaccines and other therapeutics have been accelerated by considerable government financing. Only six major vaccine developers received over US$12 billion in public funding. Projected revenue from their IP monopolies will exceed tens of billions. Supply shortages have disrupted vaccine su...
Source: IPS Inter Press Service - Health - Category: International Medicine & Public Health Authors: Tags: COVID-19 Development & Aid Economy & Trade Global Headlines Health Humanitarian Emergencies Sustainability TerraViva United Nations Jomo Kwame Sundaram & Anis Chowdhury Source Type: news