Financial Daily from THE HINDU group of publications
Monday, Jan 24, 2005
Financial Daily from THE HINDU group of publications Monday, Jan 24, 2005 |
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Industry & Economy
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Infrastructure Megadiverse nations to create co-op fund Our Bureau
New Delhi , Jan. 23 THE like minded megadiverse countries, rich in biological diversity and associated traditional knowledge, have agreed to work towards creating the Megadiverse Co-operation Fund for supporting projects in member countries that meet the objectives of the group. They have agreed to work together "for effectively negotiating the development of an international regime on access and benefit sharing, including legally binding instruments in the forthcoming meetings of the ad-hoc, open-ended working group under the aegis of Convention on Biological Diversity, so as to safeguard the interests of LMMC countries and people," said an official statement. The New Delhi Ministerial Declaration of LMMC on ABS, issued here at the end of their five-day meet, also stated that the proposed international regime on access and benefit sharing should include "mandatory disclosure of the country of origin of biological material and associated traditional knowledge in the IPR (intellectual property right) application, along with an undertaking that the prevalent laws and practices of the country of origin have been respected and mandatory specific consequences in the event of failure to disclose the country of origin in the IPR application."
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