India hopes for positive action on TRIPS waiver, fisheries agreement at upcoming WTO meet

Ahead of the World Trade Organisation (WTO) summit, India is hoping for positive action on the TRIPS waiver along with a more rational viewpoint on fisheries. The 12th meeting of the WTO ministers is set to commence on June 12 (Sunday) and will mark Union Minister Piyush Goyal in attendance. Notably, the meeting is set to be held for three days from June 12 to June 15 in Geneva and would give global leaders the chance to “review the functioning of the multilateral trading system, general statements and take action on the future work of WTO.”  

TRIPS waver

Effective in 1995, the Agreement on Trade-Related Aspects of Intellectual Property Rights establishes minimum standards of regulation by national governments of different forms of Intellectual Property. In October 2020, both India and South Africa submitted a proposal for a waiver from certain provisions of the aforementioned TRIPS agreements, in order to prevent, treat and contain the coronavirus disease. A total of 65 members have joined as co-sponsors of the proposal as of now, according to a report by ANI. Notably, the EU has also submitted a related proposal that focuses on mandatory licensing and is limited to patents.

Apart from the TRIPS waiver, India is hopeful that the developed states would look rationally at fisheries. Speaking to ANI, a government official said, “Fisheries are a common endowment to humanity, a global public common. Therefore, the sharing of such resources should be equitable and just. Any imbalance in the agreement would bind us to current fishing arrangements, which may not meet everyone’s future requirements. For sustainability, big subsidizers must take greater responsibility to reduce their subsidies and fishing capacities."

Earlier this year, Goyal has SJM co-convenor Ashwani Mahajan said it is "unprecedented" that the World Trade Organization (WTO) Secretariat is having textual discussions at the ministerial level without the involvement of technical advisors. In a missive to Goyal he said, "In any case, we understand, that India is standing up to the pressure of the EU, the US and the WTO secretariat. We call on you to continue the same, to ensure that any outcome of the discussions should result in an effective and useful outcome for access and should expand the flexibilities provided by the TRIPS Agreement." 

(Image: WTO)