Dubai Telegraph - WTO seeks shot in the arm with Covid jab IP idea

EUR -
AED 4.240661
AFN 75.055375
ALL 91.712691
AMD 419.720863
ANG 2.067349
AOA 1060.021451
ARS 1740.139649
AUD 1.619478
AWG 2.079918
AZN 1.959843
BAM 1.957789
BBD 2.325642
BDT 142.164398
BGN 1.943883
BHD 0.435238
BIF 3452.47682
BMD 1.154708
BND 1.46938
BOB 13.33643
BRL 5.941086
BSD 1.154663
BTN 110.801583
BWP 15.627738
BYN 3.506131
BYR 22632.273853
BZD 2.322239
CAD 1.608158
CDF 2670.239636
CHF 0.944783
CLF 0.027901
CLP 1101.683802
CNY 7.749764
CNH 7.746993
COP 3607.111022
CRC 516.720364
CUC 1.154708
CUP 30.599758
CVE 110.375676
CZK 24.299695
DJF 205.617067
DKK 7.475313
DOP 67.898377
DZD 154.384613
EGP 59.959244
ERN 17.320618
ETB 185.907753
FJD 2.55531
FKP 0.85672
GBP 0.856522
GEL 3.001296
GGP 0.85672
GHS 13.261297
GIP 0.85672
GMD 84.868683
GNF 10153.224815
GTQ 8.814877
GYD 241.573277
HKD 9.057534
HNL 31.084527
HRK 7.531701
HTG 150.911976
HUF 365.231755
IDR 20432.555399
ILS 3.503617
IMP 0.85672
INR 110.753109
IQD 1513.244637
IRR 1587261.41017
ISK 139.833216
JEP 0.85672
JMD 181.861569
JOD 0.818648
JPY 179.232626
KES 149.696591
KGS 100.978968
KHR 4677.710693
KMF 493.060761
KPW 1039.237432
KRW 1580.056315
KWD 0.356297
KYD 0.962269
KZT 516.430071
LAK 25841.023227
LBP 103400.029098
LKR 380.923609
LRD 201.603025
LSL 18.787083
LTL 3.409552
LVL 0.698472
LYD 7.320632
MAD 10.917094
MDL 20.074216
MGA 5051.84629
MKD 61.588623
MMK 2424.452972
MNT 4151.261485
MOP 9.329495
MRU 46.246332
MUR 54.537163
MVR 17.782612
MWK 2005.164634
MXN 19.788407
MYR 4.670101
MZN 73.797481
NAD 18.77731
NGN 1530.415431
NIO 42.27396
NOK 10.776525
NPR 177.282533
NZD 2.007154
OMR 0.443985
PAB 1.154663
PEN 3.874038
PGK 5.129788
PHP 72.414013
PKR 320.101358
PLN 4.340789
PYG 6872.921382
QAR 4.205388
RON 5.259927
RSD 117.361067
RUB 97.22604
RWF 1696.193464
SAR 4.333705
SBD 9.279521
SCR 15.946242
SDG 694.558334
SEK 11.28179
SGD 1.470087
SHP 0.857053
SLE 28.451622
SLL 24213.636878
SOS 659.858797
SRD 43.590087
STD 23900.121142
STN 24.883954
SVC 10.103174
SYP 15013.511755
SZL 18.752618
THB 38.424637
TJS 10.651727
TMT 4.053025
TND 3.36453
TOP 2.780259
TRY 56.184391
TTD 7.835891
TWD 36.692226
TZS 3057.09247
UAH 51.54701
UGX 4537.549896
USD 1.154708
UYU 46.436764
UZS 13584.798231
VES 971.32176
VND 29994.113748
VUV 136.436829
WST 3.160128
XAF 655.957
XAG 0.017914
XAU 0.000267
XCD 3.120655
XCG 2.081032
XDR 0.816438
XOF 655.957
XPF 119.331742
YER 273.129813
ZAR 18.747086
ZMK 10393.757908
ZMW 22.544704
ZWL 371.815456
SSP 6530.200245
MXV 2.243736
  • RBGPF

    0.0000

    69.99

    0%

  • CMSD

    -0.1700

    20.07

    -0.85%

  • RYCEF

    0.2600

    19.3

    +1.35%

  • BCC

    0.6800

    75.93

    +0.9%

  • BCE

    -0.2534

    22.9

    -1.11%

  • CMSC

    -0.1000

    20.32

    -0.49%

  • VOD

    0.1500

    17.68

    +0.85%

  • RIO

    -0.3800

    97.26

    -0.39%

  • NGG

    -0.0300

    74.93

    -0.04%

  • GSK

    -0.0400

    50.01

    -0.08%

  • JRI

    -0.2065

    11.62

    -1.78%

  • BTI

    -0.7700

    56.52

    -1.36%

  • RELX

    -1.5000

    34.22

    -4.38%

  • AZN

    -1.9300

    161.85

    -1.19%

  • BP

    1.0300

    46.96

    +2.19%

WTO seeks shot in the arm with Covid jab IP idea
WTO seeks shot in the arm with Covid jab IP idea / Photo: Narinder NANU - AFP/File

WTO seeks shot in the arm with Covid jab IP idea

The WTO's search for a role in fighting the pandemic sharpened up on Monday as ministers seek a compromise to lift intellectual property rights on Covid-19 vaccines.

Text size:

The World Trade Organization's first ministerial meeting since December 2017 is wrestling with the wording of a text that would temporarily waive patents on coronavirus jabs.

It is the main pandemic-combating idea being negotiated at MC12, the global trade body's 12th ministerial conference, being held from Sunday to Wednesday at its headquarters in Geneva.

But serious objections remain from some of the countries that host major pharmaceutical companies, like Britain and Switzerland -- a problem at the WTO, where decisions are taken by consensus rather than by majority.

The world's big pharma firms are dead set against the idea, insisting that stripping patents will cripple investment and innovation.

They also say the plan -- first proposed in October 2020 when the pandemic was raging and before jabs were even rolled out -- has gone past its sell-by date as the world now has a surplus of vaccine doses rather than a dearth.

After Sunday's opening ceremony and countries setting out their positions, ministers from the 164 WTO members went into rooms at the organisation's HQ -- the grand 1920s, classical Florentine-style Centre William Rappard on Lake Geneva -- to start talking it out face to face.

- Birthday present? -

This week's conference is a crunch moment for WTO chief Ngozi Okonjo-Iweala, who has staked her leadership on breathing new life into the crippled organisation, where progress has been stumbling for years.

The Nigerian former finance and foreign minister took over in March 2021 on a mission to make the WTO relevant again.

But on her 68th birthday Monday, there was no immediate sign of a breakthrough on vaccine patents.

Public interest groups say the draft text falls far short of what is needed, by time-limiting and complicating the vaccine patents waiver -- and by leaving out Covid treatments and diagnostics.

Non-governmental organisations staged a protest in the WTO's central atrium, chanting slogans and unfurling banners reading: "No monopolies on Covid-19 medical tools" and "End vaccine apartheid".

"The WTO rules are contributing to exacerbating the pandemic, because it's the WTO that enforces IP rules," demonstration organiser Deborah James told AFP.

"Folks have been campaigning on this for two years and it's been a complete wall by a few countries," she said.

"It's an indictment of the WTO system: it's completely broken, it can't respond to a pandemic, it has no ability to put anything other than maximising profits for corporations ahead of anything else."

- 'We are choosing death' -

In October 2020, India and South Africa began pushing for the WTO to lift IP rights on Covid-19 vaccines, tests and treatments to help ensure more equitable access in poorer nations.

After multiple rounds of talks, the United States, the European Union, India and South Africa hammered out a compromise.

The text would allow most developing countries, although not China, to produce Covid vaccines without authorisation from patent holders.

Beijing has promised not to use the facilities granted to developing countries in the draft agreement, but, according to several diplomats, Washington wants this commitment in writing.

"In a pandemic, sharing technology is life or death and we are choosing death," said the UNAIDS agency's executive director Winnie Byanyima.

Besides production, a second text being negotiated seeks to tackle some of the supply constraints faced by certain countries in getting hold of Covid-fighting tools.

And beyond the pandemic, the WTO faces pressure to eke out long-sought trade deals on a range of issues and show unity amid an impending global hunger crisis.

Okonjo-Iweala voiced cautious optimism on Sunday that ministers could reach agreement on food security threatened by Russia's invasion of Ukraine, overfishing and on Covid vaccines.

She said to expect a "rocky, bumpy road with a few landmines along the way".

W.Zhang--DT