The proposal for a temporary waiver of Trade Related Intellectual Property Rights (TRIPS) for Covid-19 vaccines can curb vaccine inequity. Discuss (200 Words)
Refer - Business Line
Enrich the answer from other sources, if the question demands.
IAS Parliament 2 years
KEY POINTS
· Despite numerous meetings and exchanges of views stretching over a year, a consensus still seems elusive at the WTO on the India-South Africa proposal for a temporary waiver of Trade Related Intellectual Property Rights (TRIPS) for Covid-19 vaccines and medical products.
· India and South Africa, which have so far emphasised on the growing vaccine inequity and the resulting threat to global recovery to gain support for their proposal, have to plan their next moves cautiously.
· For the rich countries, protection offered by the WTO’s TRIPS agreement, which was actually mostly drafted by them, has not proved to be enough.
· There has been a growing clamour that all countries should adopt ‘TRIPS plus’ regulations, by framing more stringent patent norms, so that patent holders can keep earning more profits.
· It is true that there still remains a wide gap between India and South Africa’s demand for a three-year TRIPS waiver on a whole range of health products and technologies and what the US and the EU are willing to negotiate.
· With countries grappling to deal with the highly contagious Omicron variant, constant threats of new mutants emerging and growing concern over abysmally low rates of vaccination in low-income countries.
Manish 2 years
Please Review !
IAS Parliament 2 years
Try to providea comprehensive conclusion. Keep Writing.
Hina Katariya 2 years
Please review
IAS Parliament 2 years
Try to mention about comulsory licensing. Keep Writing.
K. V. A 2 years
Kindly review
IAS Parliament 2 years
Good attempt. Keep Writing.
