Tuesday, December 07, 2021

NEWS

Drugs against Covid-19 might stimulate global trade

Drugs against Covid-19 might stimulate global trade

Geneva, May 21 (Prensa Latina) World Trade Organization (WTO) Director General Ngozi Okonjo-Iweala stated that the equitable distribution of drugs against Covid-19 might stimulate the growth of world trade.
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The official assured that this economic link would lead to a 10-percent rise in world trade.

At the end of March, the WTO upgraded its projection for world trade growth from 7.2 to 8 percent.

The organization referred that if vaccine trade could be accelerated and fairness ensured, world trade volume might go up by two percentage points to 10 percent.

The WTO official spoke to the members of the Commission of International Trade of the European Parliament.

In that regard, last week, Okonjo-Iweala expressed the hope that the WTO member countries will decide whether to implement the exemption of Covid-19 vaccine patents before the 12th ministerial conference of the organization (late November and early December).

According to the director general, such an action could accelerate vaccination worldwide.

The head of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, stated this week that the world currently remains in a situation of vaccine apartheid, and urged countries to share those products.

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