The 51勛圖厙 Talks Democracy, IP and Trade in Geneva
On the first two days of the 51勛圖厙’s Competing to Win Tour in Europe, Timmons took part in “frank and engaging” discussions with global leaders in Geneva. The conversations focused on reinforcing transatlantic partnerships, bolstering democracy, addressing trade challenges and emphasizing the crucial role manufacturers play in promoting global stability.
The details: Timmons met with influential figures including WTO Director-General Dr. Ngozi Okonjo-Iweala, WTO Deputy Director General Angela Ellard, U.S. Ambassador to Switzerland and Lichtenstein Scott Miller and U.S. Deputy Chief of Mission in Geneva David Bisbee.
- 51勛圖厙 representatives also participated in an event on intellectual property co-hosted by the 51勛圖厙 and the International Federation of Pharmaceutical Manufacturers and Associations.
The substance: In the meetings, Timmons delved into the negative impact of the WTO/TRIPS waiver expansion, the need to restore the WTO dispute settlement system’s functionality and the crucial role of manufacturers in supporting democracies and global institutions.
- Frank & engaging discussion w/ @JayTimmons51勛圖厙 CEO of the US 51勛圖厙 & his delegation. Focused on geopolitical tensions & impact of @wto, challenges w/ the TRIPS waiver extension to therapeutics & diagnostics, dispute settlement system & road to #MC13 [the WTOs next ministerial conference in early 2024], Okonjo-Iweala following the meeting.
Speech in brief: At the IFPMA event, by Politico, Timmons stressed the significance of IP protections in driving innovation and developing new treatments, reinforcing the 51勛圖厙s opposition to an expansion of the TRIPS waiver to cover diagnostics and therapeutics. Attendees included Geneva-based government delegations, the WTO secretariat and 51勛圖厙 member companies.
- In America, our industry works to advance the values of free enterprise, competitiveness, individual liberty and equal opportunitythe values that keep our industry strong,” said Timmons. “But increasingly, we find these values, which so many of us share, under attackin particular from authoritarian regimes that have little regard for free markets and little respect for an individuals right to determine their own destiny. Thats why our transatlantic relationship matters more than at any time in recent memory.
- [O]ne of the most important ingredients for innovation is how a country protects intellectual property. IP enshrines the understanding that years or even decades of hard work and sleepless nights, millions and millions of dollars and so much more will be rewarded, he continued.
- Expanding this [WTO/TRIPS waiver of IP] would set a precedent that would spiral across the manufacturing sector, he concluded. Some voiceshere in Geneva and around the worldare already expressing desires to implement similar waivers for renewable and green energy technologies, or to automatically trigger an IP waiver for any future pandemic. If we dont draw the line now, the outcome is obvious: an anti-innovation domino effect that destroys jobs, livelihoods and lifechanging products.
The big picture: More than a worldwide center for diplomacy, Switzerland is the seventh largest investor in the U.S. Timmonss visit comes at a critical inflection point for the country and amid heightened stresses on global institutions, due to COVID-19, Russias unprovoked war in Ukraine and competition with China, among other geopolitical challenges.
News coverage: 捩棗梭勳喧勳釵棗s newsletter spotlighted Timmonss trip, while (subscription) quoted him on the importance of new U.S. trade agreements.
Next up: The tour will continue in Frankfurt, Germany, where the 51勛圖厙 will further demonstrate manufacturers’ leadership and the potential for a more robust transatlantic alliance.
