Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

World Bank Opposes Vaccine Intellectual Property Waiver As WTO Talks Resume

World Bank Opposes Vaccine Intellectual Property Waiver As WTO Talks Resume

The World Bank's concern has come out of concern that it would hamper innovation in the pharmaceuticals sector.
World Bank President David Malpass said on Tuesday the bank does not support waiving intellectual property rights for COVID-19 vaccines at the World Trade Organization out of concern that it would hamper innovation in the pharmaceuticals sector.

His comments on the subject, made during a call with reporters on World Bank economic forecasts, came as WTO negotiations over the proposed waiver resumed in Geneva.

Asked whether he backs a WTO vaccine IP waiver, which India, South Africa and other emerging market countries argue is needed to expand vaccine access, Malpass said: "We don't support that, for the reason that it would run the risk of reducing the innovation and the R&D in that sector."

The comment puts Malpass, a Trump administration nominee, at odds with the Biden administration, which is supporting text-based WTO negotiations for vaccine intellectual property rights, led by U.S. Trade Representative Katherine Tai.

Major vaccine makers and the pharmaceutical industries have opposed the waiver from the WTO's agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), arguing that it would stifle innovation and do little to effectively increase vaccine supplies constrained by trade barriers, shortages of components and a lack of manufacturing capabilities.

Malpass on Tuesday reiterated his calls for wealthy countries to quickly donate their excess vaccine doses to the developing world as quickly as possible.

The World Bank said its global growth forecasts, raised to 5.6% for 2021 and 4.3% for 2022, could be higher if vaccinations can be accelerated in developing countries.

In Geneva, negotiations were proceeding on Tuesday and Wednesday over revised waiver proposals from India and South Africa that remained far broader than the narrow vaccine-only waiver favored by USTR Tai.

"It seems to be they are still far apart. Their positions have not fundamentally changed," a Geneva-based trade official told Reuters.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×