BEIJING, June 20 (Xinhua) -- China has played a constructive role in the World Trade Organization (WTO) negotiations to facilitate a major decision on the waiver of intellectual property rights for COVID-19 vaccines, an official with the Ministry of Commerce said Monday.
At a pivotal stage of MC12 negotiations, China, as a major producer and a supplier of COVID-19 vaccines, announced that it will forego the flexibility of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) waiver on COVID-19 vaccines, the official said.
Developing members enjoy larger flexibility on the implementation of authorization, notification obligation and provision of appropriate remuneration to the right holders.
The move shows China's sense of responsibility as a major country, the official said, adding that it laid a foundation for the final MC12 outcomes.
The important achievement made at MC12 will play a vital role in bridging the global vaccine gaps and improving the vaccine accessibility and affordability in developing countries, the official noted.