Union Minister Piyush Goyal holds talks with US Trade Representative to enhance COVID-19 vaccine production

The Commerce and Industry Minister Piyush Goyal on May 14, 2021, held a discussion virtually with the US Trade Representative Katherine Tai to increase the Coronavirus vaccine production.

In a tweet, the Union Minister informed that the discussion between both the officials was fruitful. They both focused on India and the United States working together on Trade-Related aspects of Intellectual Property Rights (TRIPS) waiver. He added that this will ensure affordable vaccines for all.

Had a fruitful discussion with US Trade Representative @AmbassadorTai focusing on India & US working together on Trade-Related aspects of Intellectual Property Rights (TRIPS) waiver. This will ensure affordable COVID-19 vaccines for all. pic.twitter.com/Rin6V7YDRj

— Piyush Goyal (@PiyushGoyal) May 14, 2021

Piyush Goyal while talking about the meeting stated that the supply chains of the vaccine manufacturers must be kept open and undisrupted as the whole world is in dire need of vaccines. Both India and the US have agreed to work towards increasing vaccine availability and saving lives.

India-US Meeting on COVID-19 vaccine production: Key Highlights

•  The meeting between the Commerce and Industry Minister and the US Trade Representative focused on increasing vaccine availability in an equitable and inclusive manner in order to combat the global pandemic.

•  India’s proposal on waiver of the certain TRIPS provision was also discussed. The proposal aims at increasing global vaccine production to take on the challenge of vaccinating the poorest of the poor and saving lives.

•  The Union Minister thanked the US Trade Representative for the US Government announcing its support for India’s proposal.

Background:

In October 2020, India and South Africa, along with other 57 members of the World Trade Organisation had proposed a waiver from a certain provision of the TRIPS agreement for the containment, prevention, and treatment of Coronavirus.

The World Trade Agreement on TRIPS is a comprehensive multilateral agreement on Intellectual Property.

On May 6, 2021, US President Biden’s government announced its support for a global waiver on the patent protections for Coronavirus vaccines and stated that it will negotiate the terms with WTO.