India on Friday expressed hope for an early decision in the WTO on a proposal of India and South Africa for a temporary waiver of certain intellectual property rights provisions in the TRIPS agreement to deal with the COVID-19 pandemic.
In October 2020, India and South Africa submitted a 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 treatment of COVID-19.
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.
Commerce Secretary Anup Wadhawan said the proposal had received support from several countries.
“I am hopeful that in an early timeframe, some decision will be reached at the WTO…I am hopeful that an early outcome will be achieved on this,” he told reporters.
The move would help in scaling up the production of vaccines and other essential products to deal with the coronavirus, he added.
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