Berliner Boersenzeitung - WTO seeks shot in the arm with Covid jab IP idea

EUR -
AED 3.972516
AFN 70.775385
ALL 98.637821
AMD 418.731325
ANG 1.949108
AOA 985.834209
ARS 1063.405362
AUD 1.62487
AWG 1.949486
AZN 1.842752
BAM 1.949906
BBD 2.183599
BDT 129.239335
BGN 1.955894
BHD 0.40771
BIF 3125.667066
BMD 1.081546
BND 1.419632
BOB 7.488429
BRL 6.15345
BSD 1.081421
BTN 90.904566
BWP 14.427587
BYN 3.539136
BYR 21198.295671
BZD 2.179639
CAD 1.496443
CDF 3076.997303
CHF 0.93608
CLF 0.037325
CLP 1029.901676
CNY 7.699311
CNH 7.699843
COP 4626.582108
CRC 556.11896
CUC 1.081546
CUP 28.660961
CVE 110.639511
CZK 25.272455
DJF 192.212425
DKK 7.457584
DOP 65.352412
DZD 144.674032
EGP 52.63753
ERN 16.223185
ETB 128.274912
FJD 2.421252
FKP 0.827565
GBP 0.832979
GEL 2.942141
GGP 0.827565
GHS 17.413569
GIP 0.827565
GMD 75.708045
GNF 9328.331877
GTQ 8.362721
GYD 226.128233
HKD 8.40745
HNL 27.092593
HRK 7.450801
HTG 142.348392
HUF 401.434616
IDR 16831.014145
ILS 4.089243
IMP 0.827565
INR 90.939445
IQD 1416.824864
IRR 45535.778067
ISK 149.102536
JEP 0.827565
JMD 171.860499
JOD 0.766825
JPY 162.930551
KES 139.519187
KGS 92.471352
KHR 4391.07575
KMF 492.265548
KPW 973.390884
KRW 1491.732321
KWD 0.331515
KYD 0.901163
KZT 521.488549
LAK 23720.996559
LBP 96852.416864
LKR 317.069833
LRD 207.926942
LSL 19.056751
LTL 3.193523
LVL 0.654216
LYD 5.202167
MAD 10.707845
MDL 19.356074
MGA 4969.702187
MKD 61.533048
MMK 3512.818237
MNT 3675.09231
MOP 8.656851
MRU 42.991552
MUR 49.665144
MVR 16.612847
MWK 1877.023244
MXN 21.583623
MYR 4.664165
MZN 69.056576
NAD 19.056552
NGN 1772.707266
NIO 39.747188
NOK 11.846522
NPR 145.459923
NZD 1.795853
OMR 0.41632
PAB 1.081296
PEN 4.06339
PGK 4.312934
PHP 62.357565
PKR 300.398725
PLN 4.320028
PYG 8567.024339
QAR 3.937364
RON 4.973487
RSD 117.032714
RUB 104.69602
RWF 1460.086692
SAR 4.062634
SBD 8.976101
SCR 14.730691
SDG 650.592911
SEK 11.427163
SGD 1.424055
SHP 0.827565
SLE 24.707894
SLL 22679.469045
SOS 617.562799
SRD 35.92354
STD 22385.812306
SVC 9.462397
SYP 2717.416301
SZL 19.057289
THB 36.25395
TJS 11.521634
TMT 3.78541
TND 3.363067
TOP 2.533088
TRY 37.044127
TTD 7.338681
TWD 34.680953
TZS 2947.212009
UAH 44.678333
UGX 3964.017545
USD 1.081546
UYU 45.033871
UZS 13868.117023
VEF 3917956.107638
VES 42.323455
VND 27368.513876
VUV 128.40331
WST 3.029609
XAF 653.898771
XAG 0.032063
XAU 0.000397
XCD 2.922931
XDR 0.811047
XOF 654.335361
XPF 119.331742
YER 270.792014
ZAR 19.060734
ZMK 9735.209484
ZMW 28.844209
ZWL 348.257273
  • RBGPF

    61.7500

    61.75

    +100%

  • SCS

    -0.1200

    12.89

    -0.93%

  • RYCEF

    0.0200

    7.42

    +0.27%

  • AZN

    -0.8200

    77.44

    -1.06%

  • CMSC

    -0.1300

    24.65

    -0.53%

  • GSK

    -0.3900

    38.16

    -1.02%

  • RELX

    -0.5400

    47.63

    -1.13%

  • NGG

    -0.9700

    67.03

    -1.45%

  • RIO

    -0.4100

    64.95

    -0.63%

  • BTI

    -0.2500

    34.25

    -0.73%

  • BP

    0.1400

    31.47

    +0.44%

  • BCE

    -0.1500

    33.39

    -0.45%

  • BCC

    -3.8400

    137.9

    -2.78%

  • JRI

    -0.0700

    13.15

    -0.53%

  • VOD

    -0.1300

    9.63

    -1.35%

  • CMSD

    -0.1700

    24.87

    -0.68%

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".

(Y.Berger--BBZ)