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

EUR -
AED 4.097406
AFN 77.400559
ALL 99.383558
AMD 432.560822
ANG 2.013475
AOA 1036.906361
ARS 1073.42574
AUD 1.634959
AWG 2.009415
AZN 1.874953
BAM 1.956049
BBD 2.255708
BDT 133.508213
BGN 1.964124
BHD 0.420454
BIF 3237.949872
BMD 1.115567
BND 1.442597
BOB 7.720053
BRL 6.028677
BSD 1.117252
BTN 93.436539
BWP 14.698226
BYN 3.656199
BYR 21865.116772
BZD 2.251897
CAD 1.511052
CDF 3201.677982
CHF 0.945862
CLF 0.037653
CLP 1038.949977
CNY 7.882569
CNH 7.886262
COP 4661.720985
CRC 578.708913
CUC 1.115567
CUP 29.56253
CVE 110.279055
CZK 25.075761
DJF 198.923064
DKK 7.459061
DOP 67.069149
DZD 147.456409
EGP 54.1175
ERN 16.733508
ETB 128.57484
FJD 2.452407
FKP 0.84957
GBP 0.839392
GEL 2.992506
GGP 0.84957
GHS 17.5964
GIP 0.84957
GMD 76.973793
GNF 9653.316876
GTQ 8.636178
GYD 233.663599
HKD 8.694786
HNL 27.713781
HRK 7.584754
HTG 147.230085
HUF 394.395954
IDR 16921.146134
ILS 4.190249
IMP 0.84957
INR 93.324226
IQD 1463.499646
IRR 46970.956117
ISK 152.503695
JEP 0.84957
JMD 175.522371
JOD 0.790603
JPY 159.474235
KES 144.120258
KGS 94.014423
KHR 4534.740564
KMF 493.639946
KPW 1004.009832
KRW 1481.501095
KWD 0.340282
KYD 0.930914
KZT 535.01824
LAK 24669.365319
LBP 100045.447892
LKR 340.076392
LRD 223.413441
LSL 19.465355
LTL 3.29398
LVL 0.674795
LYD 5.321678
MAD 10.834381
MDL 19.4933
MGA 5033.664116
MKD 61.529329
MMK 3623.318692
MNT 3790.697235
MOP 8.967638
MRU 44.224033
MUR 51.171153
MVR 17.123835
MWK 1937.029835
MXN 21.384781
MYR 4.696637
MZN 71.290593
NAD 19.465355
NGN 1829.887108
NIO 41.110633
NOK 11.661944
NPR 149.516397
NZD 1.784261
OMR 0.429437
PAB 1.117252
PEN 4.194272
PGK 4.435565
PHP 62.04563
PKR 310.721888
PLN 4.265299
PYG 8721.189718
QAR 4.073019
RON 4.974358
RSD 117.06988
RUB 103.604552
RWF 1504.423172
SAR 4.186377
SBD 9.282371
SCR 15.069078
SDG 671.011434
SEK 11.317373
SGD 1.44148
SHP 0.84957
SLE 25.487701
SLL 23392.880292
SOS 638.4871
SRD 33.54789
STD 23089.988351
SVC 9.775246
SYP 2802.895941
SZL 19.4483
THB 36.936557
TJS 11.874383
TMT 3.915641
TND 3.383831
TOP 2.621362
TRY 37.957156
TTD 7.593117
TWD 35.657439
TZS 3039.296011
UAH 46.296501
UGX 4148.565935
USD 1.115567
UYU 45.89585
UZS 14232.941614
VEF 4041200.723372
VES 40.965693
VND 27420.64134
VUV 132.442377
WST 3.120758
XAF 656.064141
XAG 0.035763
XAU 0.000431
XCD 3.014876
XDR 0.828013
XOF 656.040614
XPF 119.331742
YER 279.282501
ZAR 19.435913
ZMK 10041.435126
ZMW 29.074575
ZWL 359.212178
  • RBGPF

    3.5000

    60.5

    +5.79%

  • CMSC

    -0.0450

    25.01

    -0.18%

  • BCC

    5.4350

    142.495

    +3.81%

  • BTI

    -0.2050

    37.675

    -0.54%

  • GSK

    -0.4340

    41.996

    -1.03%

  • SCS

    -1.0200

    13.09

    -7.79%

  • BP

    0.7280

    33.158

    +2.2%

  • RYCEF

    0.3800

    6.93

    +5.48%

  • NGG

    -1.3750

    68.675

    -2%

  • RIO

    2.4850

    65.395

    +3.8%

  • JRI

    -0.0500

    13.39

    -0.37%

  • VOD

    -0.1750

    10.055

    -1.74%

  • CMSD

    0.1000

    25.08

    +0.4%

  • BCE

    -0.1700

    35.44

    -0.48%

  • RELX

    0.6400

    48.01

    +1.33%

  • AZN

    0.5250

    79.105

    +0.66%

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)