Bhutan deposited the instrument of Ratification for the Nagoya Protocol at the 2013 Treaty Event at the United Nations Headquarters in New York, yesterday.
It is in keeping with Bhutan’s commitment to international law and as a State Party to the Convention on Biological Diversity.The Nagoya Protocol was ratified by the Ninth Session of the First Parliament of Bhutan, last year.
The protocol provides a transparent legal framework for effective implementation of a fair and equitable sharing of benefits arising out of the utilisation of genetic resources.
The Nagoya Protocol was adopted on October 29, 2010 in Nagoya, Japan, during the Tenth Meeting of the Parties to the Convention. In total,92 countries have signed the Nagoya Protocol and 23 have already ratified it.
The Nagoya Protocol will enter into force after ratification by 50 states.