WTO holds back on LDCs' request to extend TRIPS waiver
Dhaka, Oct. 24 -- The Least Developed Countries' (LDCs) request to extend the transition period of Trade-Related Aspects of Intellectual Property Rights (TRIPS) didn't get full support from the members of the World Trade Organization (WTO)
Chad, on behalf of the LDC Group, placed a formal request at the meeting of the Council for TRIPS on October 16 in Geneva to extend the transition period for further 12 years. The current transitional period ends on July 1, 2021.
The general transitional period is basically an exemption or waiver for the LDCs to apply the provisions of the TRIPS Agreement as these countries are not adequately capable to comply with the most of the obligations of a multilateral agreement on intellectual property (IP) r...
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