Trans-Pacific Partnership talks near deal after five years of debate

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http://www.dw.com/en/trans-pacific-partnership-talks-near-deal-after-five-years-of-debate/a-18760995

Pacific nation trade ministers seeking a deal for a free trade pact appear to be near agreement after five years of debate. The breakthrough came amid protests in Atlanta, after five days and nights of negotiations.

Trans-Pacific Partnership talks near deal after five years of debate
05.10.2015

The stumbling block to a sweeping trade pact for Pacific nations had been over the length of monopoly for new biotech drugs. Protesters gathered outside the hotel where the talks were being held in Atlanta, Georgia to voice their concerns (photo above).

On Sunday, the US appeared to have reached a compromise with Australia and five other delegations at the talks. "We have largely completed with the Americans but then there are 10 other countries," said Australian Trade Minister Andrew Robb. "I understand there are still two or three at most who have to work their way through."

Three all-night sessions of negotiations were needed to find an apparent compromise. Drug makers are to have a minimum threshold of five years during which they would have exclusive rights to clinical data behind new drugs. They would then have additional protection of several more years as applications for competing drugs were reviewed.

Under a second track, pharmaceutical companies would have eight years of exclusive rights to a new product outright in some countries.