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Piyush Goyal seeks relaxation in Intellectual Property Rights (IPR) to ensure equitable access to COVID vaccines

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Piyush Goyal seeks relaxation in IPR to ensure equitable access to COVID vaccines

Commerce Minister Piyush Goyal called for relaxation of intellectual property rights (IPR) and removal of new trade barriers to ensure equitable access to COVID-19 vaccines and other related healthcare essentials in the global fight against the pandemic.

According to a statement from the Ministry of Commerce on Tuesday, 12 October, Mr Goyal said, “Our response to the pandemic needs to be ensured equitable access to vaccines and other COVID-19 related health products by ensuring prompt resolution of supply-side bottlenecks. the wanted.”

He underlined the need for an early universal vaccination against COVID-19. “I invite G20 countries to join the efforts to make healthcare accessible and more affordable by the citizens of the world by enabling free flow of health services,” said Mr. Goyal

Addressing the G20 Trade and Investment Ministerial meeting in Naples, Italy, the Minister said that one way to remove trade barriers is to accept the TRIPS waiver proposal.

The Agreement on Trade-Related Aspects of Intellectual Property Rights is an international legal agreement between all the member countries of the World Trade Organization (WTO).

He said that India is among the few countries that are on track to exceed its commitments as per the Paris Agreement, urging members to meet their commitments regarding transfer of technology and climate finance – which are fulfilled by developed countries. Is not being done.

The Convention on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international legal agreement between all the member countries of the World Trade Organization (WTO). It establishes minimum standards for regulation by national governments of various forms of intellectual property (IP) applicable to citizens of other WTO member states.

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