Initiative to waive TRIPS protection for COVID-19 vaccines
Part of: GS Prelims And GS-II – International Relations; Health
In news
USA will support an initiative at the World Trade Organisation (WTO) to waive Trade Related Intellectual Property Rights (TRIPS) protection for COVID-19 vaccines.
Important value additions
The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS)
It is an international legal agreement between all the member nations of the World Trade Organization (WTO).
It establishes minimum standards for the regulation by national governments of different forms of intellectual property (IP) as applied to nationals of other WTO member nations.
TRIPS was negotiated at the end of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) between 1989 and 1990 and is administered by the WTO.
