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EU’s trade response to pandemic stops short of vaccine IP waiver

The European Union will encourage World Trade Organization members to phase out export restrictions for vaccines, but will stop short of supporting an American-backed proposal to suspend intellectual property rights meant to boost the supply of Covid shots.

Photo: DANIEL BECERRIL/REUTERS / X03208

(Bloomberg) --The European Union will encourage World Trade Organization members to phase out export restrictions for vaccines, but will stop short of supporting an American-backed proposal to suspend intellectual property rights meant to boost the supply of Covid shots.

The EU will propose to the WTO at a June 8-9 meeting that all 164 members decrease restrictive measures related to health products, expand the production of vaccine facilities and support an easing of regulatory hurdles, according to a draft proposal seen by Bloomberg.

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