July 26, 2021

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Lack of vaccination against COVID-19 Latin America’s economic recovery “is behind” and warned that the World Trade Organization

File photo of Director General of the World Trade Organization Nkosi Okonjo-Ivela at a press conference in Geneva on March 31, 2021 (Salvador de Nolpi / Pool via Reuters)

Only by expanding the vaccine can economic recovery be achieved for all countries. This Saturday, the G-7 summit of the World Trade Organization (WTO) warned, warned of the danger behind it torrunoykkup Africa, then Latin America.

World Trade Organization Director-General enkoci Okonjo-Iweala said ivela Projections indicate that the economic recovery is increasingly different from the two paths: the developed countries, the vaccine will be progressing at good speed, and low-income countries, in many cases, did not start gaining levels.

“We need to inject people to revive the economy, and that is what will stimulate growth,” he told reporters at a G7 summit in Cornwall, Nigeria (southwest England).

“We see Latin America lag behind, especially in Africa”, The path is marked with a climbing line to the United States and Asia, compared warned the head of the World Trade Organization.

Unequal access for products with those differences -19 kovit closely linked, Okonjo-Iweala said ivela “Vaccination policy, trade policy,” he considered.

The multidisciplinary system sees a “strong” reactivation of the global market, which will be around 8% this year and 4% next.

In his inaugural address, British Prime Minister Boris Johnson said that one of the key tasks of the G7 summit in Cornwall was to lay the foundation for a “fair and balanced” economic recovery.

G7 leaders meet in the UK's Corbis Bay to discuss the global vaccination program and other issues of international concern.
G7 leaders meet in the UK’s Corbis Bay to discuss the global vaccination program and other issues of international concern.

In terms of access to vaccines for developing countries increasingly global agreement is reached by then, believes that the World Trade Organization, Its members are very divided on whether it should come to hand by suspending patents.

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In that regard, Okonjo-Ivela welcomed the progress made this week in the WTO countries, agreeing to begin negotiations in a speech to increase access to anticoagulant tools, including the suspension of patents.

The 164 members of the organization were open to talks about ways COVID-19 against the vaccines, treatments and technologies change more accessible, There are still important differences in this regard, mainly between developing countries and European countries.

Although the Director-General of the World Trade Organization did not want to comment on whether he supported it Patents suspension, He hoped the talks would progress ahead of the agency’s ministerial meeting in July to be free to mediate between the parties.

“It will be difficult because some positions are far away, but there is a way and I would like to see some improvement by July,” he said.

Charles Michel, President of the Council of Europe, with Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), REUTERS via John Thais / Pool on 19 May 2021 at EU Headquarters in Brussels, Belgium
Charles Michael, President of the Council of Europe, with Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), REUTERS via John Thais / Pool on 19 May 2021 at EU Headquarters in Brussels, Belgium

While welcoming the G7 countries’ intention to donate $ 1 billion to developing countries, he stressed that “We need $ 50,000 million (,000 41,000 million) to accelerate vaccine use.” With these resources, he estimated that 40% of the world’s population would have been vaccinated by the end of this year and 60% by the end of next year.

However, He asked not to reduce the debate only on the suspension of the patent for vaccinesOn the contrary, it involves other issues, such as export controls, which complicate the supply chain, which is important for the production of products.

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Each vaccine that has so far been approved against cochineal requires several components that are manufactured in different countries. He exemplified the Pfizer vaccine, which contains 180 ingredients produced in 86 locations in 19 countries.

“It shows how complex and sophisticated supply chains are, and you need to make sure export controls are kept to a minimum,” Okanzo-Ivela said before recalling that the World Trade Organization currently calculates 53 such measures, initially progressing to more than 109 epidemics.

Written by Enrique Rubio (EFE)

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