88. The representative of Australia said that Australia was recognized as a mega-diverse country with a high degree of endemism and unique indigenous cultures, and had a strong interest in a balance between holders and users of genetic resources and associated traditional knowledge. It sought to protect genetic resources and traditional knowledge and ensure legal certainty in the IP system to encourage innovation and investment in goods and services that were directly based on genetic resources and traditional knowledge.
89. He said that the TRIPS Agreement and the CBD were consistent. Australia had implemented fully its obligations under both agreements, which it viewed as mutually supportive. Australia had a strong interest in the issue under deliberation and welcomed the significant progress made in the IGC. He said that WIPO was best placed to consider such a complex IP issue and that Australia continue its constructive engagement.
90. Australia was a signatory to the Nagoya Protocol, and the Australian Government was currently undertaking internal processes to consider its ratification.
