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Costa Rican President Carlos Alvarado signed the law approving Costa Rica s OECD Accession Agreement and the OECD Convention.
This signing signals Costa Rica s imminent entry as the 38th member of the group that represents 80% of the world s gross domestic product.
SAN JOSE, Costa Rica, May 24, 2021 /PRNewswire/ Costa Rican President Carlos Alvarado signed last Friday a law approved by Congress which recognizes Costa Rica s OECD Accession Agreement and the OECD Convention.
That is a key milestone for the country s integration as the 38th member of the Organisation for Economic Co-operation and Development (OECD) that was founded in 1961 and, in May 2020, invited Costa Rica to join the group.
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The delay will undoubtedly cost countless lives and risk future, potentially dangerous mutations of the Covid-19 virus. The AstraZeneca-Oxford vaccine, initial tests showed, is far less effective against the Covid-19 variant that has spread rapidly through South Africa, for example. A prolonged pandemic will also threaten to extend and exacerbate a global economic downturn.
In response, governments around the world are considering a temporary exemption to traditional intellectual property rights in order to rapidly produce coronavirus treatments at low cost, a demand intensely opposed by American lobbyists for the pharmaceutical industry.
The push by foreign governments to unilaterally set the price and pace of production of coronavirus vaccines, drug lobbyists with the Biotechnology Innovation Organization, or BIO, argued, will place “American jobs and the workers who rely on them at risk, and impede scientific advances from reaching society.”