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The convention gives each country control over the access to the genetic resources that is found within its borders. Access to genetic resources shall be granted on the basis of prior informed consent and on mutually agreed terms between the user and the country of origin, and the benefits that arises from the use of genetic resources shall be shared fairly and equitably with the country of origin.
Genetic resources and associated knowledge of their use are of great importance for research, agriculture and the medical industry. The potential value of genetic resources have increased with recent biotechnological progress.
The private sector, mainly in USA , Japan and the EU, own and control a large proportion of the utilised genetic material through intellectual property laws and agreements. Many companies also invest large sums of money into bioprospecting activities, with the aim to collect and find new uses for genetic resources.
Global biological diversity have earlier been used freely by researchers and companies. Bioprospectors were until the signing of the convention not obliged to compensate the countries from where genetic material had been collected. Many industrialized countries have gained large economic profits from the use of refined material that was initially collected from developing countries, which harbour most of the genetic material of interest to the biotechnological industry.
The use of genetic resources have in the recent decades become restricted by an increasing number of patents on biological resources, and by the establishment of national access restrictions. This complicates the development of new important products, and it also reduces the general interest in bioprospecting.
Access regulations are motivated by the convention on biological diversity, but the restrictions must not run counter to the objectives of the convention. Within the context of the convention, negotitations are currently taking place, aiming towards an international regime for access and benefit sharing. It is thought that a clear-cut international regulatory regime would facilitate fair and sustainable use of genetic resources. It would also provide an incentive for conserving biological diversity that may prove to contain valuable genetic resources in the future.
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