98. We wish to thank the Chair and the Secretariat for organizing this meeting.
99. The need for the mutual supportiveness of the TRIPS Agreement and the Convention on Biological Diversity cannot be overemphasized. Enhancing cooperation with other relevant international organizations and international instruments remains a basic principle of the TRIPS Agreement.
100. Traditional communities are greatly impacted as a result of the illegal use of biological resources or associated traditional knowledge, and over 80% of earth's biodiversity comes from developing countries, but yet they do not own many patents. Biodiversity has evolved to be a trade issue. Therefore, in order to develop a sound and viable technological base in developing countries and LDCs, any utilization of genetic resources from these regions must involve their sustainable use in other to conserve biological diversity, as well as show evidence of a fair and equitable sharing of benefits as are the principles of the CBD.
101. My delegation has mentioned in previous TRIPS Council's meetings that Article 29 of the TRIPS Agreement is not sufficient in fulfilling adequately the requirement for disclosure prior to a patent grant. Therefore, we support proposals requiring traceability and a prior informed consent from the source in respect of any product made from the utilization of genetic components or traditional knowledge and folklore, in other words, full disclosure of the origin and source of any genetic resource or associated traditional knowledge.
102. A full disclosure requirement will not only be beneficial to Nigeria, but it will also improve the quality of our substantive patent examination, which will in turn ensure the validity of patent grants in our country.