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Pages 15 (3765 words)
The issue of access to medicines is an important, strategic issue which if not answered immediately will entail loss of million of lives. At the moment, the HIV/AIDS epidemic is raging like wild bushfire in Africa. In Kenya alone, 300 people die daily because of AIDS while1.5 million people carry the HIV virus …
This paper traces the history of the Doha Agreement and finds solutions to the problem of accessibility pointing out weaknesses in the TRIPS Agreement. Finally, it suggests ways of how WTO member states be able to do their part in ensuring that millions of lives be saved by a steady supply of affordable, generic drugs to LCDS and how these can be encouraged to manufacture their own drugs using compulsory licenses easily obtainable through TRIPS provisions and furthermore export these drugs to other LCDs similarly situated as them.
International trade in the olden days was often marked with conflicts, disputes or even violence that threatened sprouting of wars between contracting nations. Thus, the lex mercatoria or law merchant came into being to govern international trade, all international merchants and especially monopolistic chartered companies such as the East India Company, South Sea Company and the Hudson Bay Company which needed to be reined over to protect small-scale merchants1. Suddenly, international commercial arbitration governed by lex mercatoria was utilised to settle international trade disputes. Here, an aritrator applied the usages and customs of international trade and the "rules of law which are common to all or most of the states engaged in international trade"2. ...
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