TT to claim profits from downstream industries

Its overall aim is to determine whether this country should become party to the Nagoya Protocol which determines the way in which indigenous genetic resources and associated traditional knowledge may be accessed, and how the benefits resulting from their use may be shared between the entities or countries that use those resources and those who provide them.

Minister of Planning and Development, Camille Robinson- Regis, announced the Government’s approval for this country’s participation in the project.

The Ministry of Planning and Development, through its Environmental Policy and Planning Division is the national focal point for the Convention of Biological Diversity and is seeking the best interest of the traditional knowledge and biodiversity resources of the country. Under the protocol other countries and institutions can develop downstream products such as medicines, dyes, and chocolate products from the genetic stock of this country’s indigenous plants, for example cocoa, peppers and animals and the country will earn no benefits or income from the sales of those products.

A statement from the Ministry of Planning and Development said that in extreme cases, derivative or processed products were sold to countries which were the source of the original genetic stock at full market value without any concessions or recognition of that country’s input in the development of the new commodity.

The Nagoya Protocol is intended to allow this country to claim profits of its natural resources which are used to create downstream products.

“Trinidad and Tobago has considerable potential with respect to the utilisation of genetic resources, particularly as a source of genetic materials which would contribute to the stock of biological resources required for research and development by external parties,” the Ministry said.

“The agricultural sector is likely to be the primary sector for biotechnology research as there are ready markets and a high demand for the commercialisation of bioengineered agricultural products.

Other sectors which may provide opportunities may include (but are not necessarily limited to) horticulture and the manufacture of non-timber forest products such as fabrics, dyes and pharmaceuticals. The manufacture of organically based pesticides and biofuels remain an emerging sector for the application of biotechnology with the potential to access lucrative markets for organic agricultural produce and renewable energy respectively.” The Protocol aims to ensure that indigenous and local communities get a fair share of benefits from the use of their traditional knowledge associated with genetic resources and for their actual genetic resources, in cases where they have established rights to grant access to them, in accordance with national legislation.