102. Australia considers the World Intellectual Property Organization's Intergovernmental Committee on Intellectual Property and Genetic Resources, Traditional Knowledge and Folklore is best placed, with appropriate technical expertise, to consider the complex issues relating to intellectual property and genetic resources and associated traditional knowledge and cultural expressions. The WIPO IGC is currently undertaking text-based negotiations with the objective of reaching agreement on an international legal instrument, or instruments, relating to intellectual property, which will ensure the balanced and effective protection of genetic resources, traditional knowledge and traditional cultural expressions.
103. We look forward to the WIPO ICG meeting in late June and the opportunity to make progress on genetic resources negotiations for the benefit of all Members and Indigenous Peoples.
104. In relation to TRIPS and the Convention on Biological Diversity, Australia considers the TRIPS Agreement and the CBD are consistent.
105. Australia fully implements our obligations under both agreements, which we view as mutually supportive.
106. In relation to the procedural matters, Australia is open to a briefing by the CBD Secretariat on the Nagoya Protocol, and can be flexible in relation to the Secretariat updating the three factual notes.