BRICS: India proposes deliverables on TRIPS waiver, e-comm consumer protection, traditional knowledge

India has proposed deliverables on issues including a waiver proposal at World Trade Organization (WTO) for uninterrupted supply of vaccines, Framework for Consumer Protection in E-Commerce and Co-operation framework for protection of Genetic Resources and Traditional Knowledge, at the first meeting of the BRICS Contact Group on Economic and Trade Issues (CGETI) from March 9-11 March, under its Chairship.

The BRICS grouping includes Brazil, Russia, India, China and South Africa. India holds the presidency of BRICS for 2021. The grouping is celebrating its 15th anniversary this year.

“India presented the calendar of events for BRICS CGETI 2021, which included the priority areas for deliverables, schedule and scope of the MSME roundtable conference workshop on Services Statistics, and the BRICS Trade Fair,” the commerce and industry ministry said in a statement Friday.

This was followed by a series of presentations, scheduled in separate sessions, made by the departments concerned on the proposed deliverables during India’s Chairship under the BRICS CGETI track.

A joint proposal by India and South Africa that now is supported by 57 WTO members, seeks a temporary waiver in global intellectual property agreements to ensure uninterrupted flow of vaccines amid the ongoing pandemic.

The proposal calls for a waiver for all WTO members of certain provisions of copyrights, industrial designs, patents and protection of undisclosed information in the Trade Related Intellectual Property Rights (TRIPS) agreement for prevention, containment or treatment of Covid-19. However, it is being opposed by China, the US, the EU, the UK, Switzerland, Japan and Australia, among others.

As per the statement, the deliverables proposed are on BRICS Cooperation on Multilateral Trading system including cooperation for the TRIPS Waiver proposal at WTO; Framework for Consumer Protection in E-Commerce; Non-Tariff Measures Resolution Mechanism; Sanitary and Phyto-Sanitary Working Mechanism; Co-operation framework for protection of Genetic Resources and Traditional Knowledge; and BRICS Framework on Co-operation in Professional Services.

Read More   Gold Falls off 4-Week Highs as Trump Officials Tout China Talks Again

The Action plan based on the document “Strategy for BRICS Economic Partnership 2025” adopted during Russian Presidency in 2020 is another deliverable proposed.

From now on till September 2021, inter sessional deliberations will be carried out to reach a consensus amongst the BRICS countries. The BRICS officers tasked with CGETI would continue the work for the 27th official level CGETI meeting, scheduled to be held in June, according to the statement.

(The one-stop destination for MSME, ET RISE provides news, views and analysis around GST, Exports, Funding, Policy and small business management.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.