UNB :
The transition period of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) for theLDCs has been extended by another 13 years.
Md. Mustafizur Rahman, Ambassador and Permanent Representative of Bangladesh in Geneva said the negotiation was not smooth at all and the developed countries – particularly, the US and the European Union were not agreeable to such a long transition period.
This special transition period will remain in force till 1 July 2034. With this achievement, we’re delighted,” he said.
After a long and intense negotiation among the members of the World Trade Organisation (WTO), a proposal in this regard has been adopted by consensus in the TRIPS Council.
Bangladesh played a leadership role in this negotiation on behalf of the Least Developed Countries (LDCs), said the Bangladesh Permanent Mission in Geneva on Wednesday.
This is the longest extension up till now. Mentionable, earlier there were such extensions for periods of seven and eight years.
The Ambassador said Bangladesh is soon going to graduate from the list of the LDCs. “Despite that, we were inclined to find a long term transition period for the LDCs so that they don’t need to sit for negotiation frequently.”
