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The World Trade Organization (WTO) early Friday agreed to the first changes to global trade regulations in many years, following contentious round-the-clock negotiations. Seven decisions and declarations were agreed upon by day six of the WTO Ministerial Conference, which was originally planned for four days.
Much of the contention came from negotiations around an intellectual property waiver that would allow member countries to produce and distribute COVID-19 vaccines. WTO decisions are normally made by consensus.
Some critics oppose the deal for not going far enough, covering only vaccines and not treatments for COVID-19. The People’s Vaccine Alliance, a coalition working to make as many vaccines available as possible, stated, “The deal on patents agreed at the WTO is a technocratic fudge aimed at saving reputations, not lives.”
Pharma companies also oppose the deal, with Stephen Ubl, president of the Pharmaceutical Research and Manufacturers of America, saying, “Rather than focus on real issues affecting public health, like solving supply chain bottlenecks or reducing border tariffs on medicines, they approved an intellectual property waiver on COVID-19 vaccines that won’t help protect people against the virus.”
Another sticking point during the negotiations was sustainable fishery practices. The final deal includes a ban on subsidies for illegal or unreported fishing of certain species of fish. The Pew Charitable Trusts celebrated the ban, saying, “The new agreement will curtail these damaging subsidies by creating a global framework that limits subsidies for illegal, unreported, and unregulated fishing; subsidies for fishing on overfished stocks; and subsidies to vessels fishing on the unregulated high seas.”
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Much of the contention came from negotiations around an intellectual property waiver that would allow member countries to produce and distribute COVID-19 vaccines. WTO decisions are normally made by consensus.
Some critics oppose the deal for not going far enough, covering only vaccines and not treatments for COVID-19. The People’s Vaccine Alliance, a coalition working to make as many vaccines available as possible, stated, “The deal on patents agreed at the WTO is a technocratic fudge aimed at saving reputations, not lives.”
Pharma companies also oppose the deal, with Stephen Ubl, president of the Pharmaceutical Research and Manufacturers of America, saying, “Rather than focus on real issues affecting public health, like solving supply chain bottlenecks or reducing border tariffs on medicines, they approved an intellectual property waiver on COVID-19 vaccines that won’t help protect people against the virus.”
Another sticking point during the negotiations was sustainable fishery practices. The final deal includes a ban on subsidies for illegal or unreported fishing of certain species of fish. The Pew Charitable Trusts celebrated the ban, saying, “The new agreement will curtail these damaging subsidies by creating a global framework that limits subsidies for illegal, unreported, and unregulated fishing; subsidies for fishing on overfished stocks; and subsidies to vessels fishing on the unregulated high seas.”
The post WTO reaches agreements including COVID-19 vaccine patent waiver and ban on subsidies for illegal fishing appeared first on JURIST - News.
Continue reading...
Note: We don't have any responsibilities about this news. Its been posted here by Feed Reader and we had no controls and checking on it. And because News posted here will be deleted automatically after 21 days, threads are closed so that no one spend time to post and discuss here. You can always check the source and discuss in their site.