Failure to Reach Agreement on WTO COVID-19 Vaccine IP Waiver... "Re-discussion in April"

[Asia Economy Reporter Kim Bo-kyung] The World Trade Organization (WTO) has once again failed to reach an agreement on the waiver of intellectual property rights for COVID-19 vaccines.

According to WTO officials on the 11th (local time), member countries discussed a proposal to temporarily waive intellectual property rights for COVID-19 vaccines at the TRIPS (Trade-Related Aspects of Intellectual Property Rights) meeting.

This was the eighth meeting since the discussion began last October following a proposal by India and the Republic of South Africa, but it only confirmed the differences in positions between those demanding the waiver and wealthy countries opposing it.

The countries requesting the IP waiver, mainly developing countries such as India and South Africa, argue that timely access to vaccines and related medicines must be ensured.

On the other hand, developed countries such as Switzerland, the European Union (EU), and the United States maintained their opposition, stating that IP protection has encouraged research and innovation, and that waiving such rights would not lead to a rapid increase in vaccine supply.

For the proposal to pass at the WTO, consensus among all 164 member countries is required.

The next regular TRIPS meeting is scheduled for June 8-9, but member countries have agreed to discuss the issue again over two days in mid-May.

This content was produced with the assistance of AI translation services.