Bangladesh has decided to support all health-related submissions at the World Trade Organisation (WTO) provided technology transfer to least-developed countries (LDCs) is incorporated.
Following the coronavirus outbreak globally in early 2020, four proposals were submitted to the WTO general council relating to trade-policy response to the covid-19 pandemic and enhancing resilience against future pandemics.
India and South Africa, Pakistan, the EU, and Canada submitted the proposals, meant mainly to ease the procedures of production and transportation of essential medical goods which include vaccines, therapeutics, diagnostics, and related vaccine materials.
These are all are necessary medical supplies to combat pandemic diseases, such as the one currently upending normal order of life across the planet. But there were instances of 'vaccine nationalism' and monopoly while less-fortunate countries were grappling with waves of corona infections and casualties for lack of vaccines.
The WTO Cell of the ministry of commerce in Dhaka recently held a meeting on the submission made by Canada to decide as to whether or not to support its proposal.
"We will support any health-related submissions," Hafizur Rahman, director- general of the cell, told the FE.
But, he said, the submissions have to keep options of technology transfer to the LDCs and any other countries having capacity of essential medical goods and vaccines production.
The High Commission of Canada in Dhaka in a recent letter requested Bangladesh's co-sponsorship support for a WTO Declaration on trade and health.
It said the declaration on trade and health endorsed by the WTO Council of Ministers at the 12th Ministerial Conference this November in Geneva "is a key priority for Canada".
"The COVID-19 crisis has created unprecedented challenges for the world," it said, adding that many WTO member-countries have suffered from shortages in essential medical goods to combat the pandemic.
The draft general council declaration, titled 'Covid-19 and beyond: trade and health WTO', says the trade policy-related actions set forth in the declaration are designed to contribute to the WTO response to the current pandemic and enhancing resilience against future pandemics.
These actions may be complemented by additional aspects of trade policy, including those related to intellectual property. This declaration is a contribution to the multilateral process on the WTO response to the pandemic.
The general council also says increased cooperation among WTO members in international trade policy can contribute to a successful fight against Covid-19 and any future pandemic.
It further notes that ensuring access to essential medical supplies during a pandemic requires resilient and robust supply chains that function in a stable and predictable trading environment.
The general council's declaration aims to regularly review and promptly eliminate unnecessary existing restrictions on exports of essential medical goods, including Covid-19 vaccines, therapeutics, diagnostics, and related vaccine materials.
Also, it aims to exercise 'utmost restraint' in the imposition of any new export restrictions, including export taxes, on such goods.
The declaration also highlights trade-facilitating measures like digital customs procedures, and services including freight, logistics, distribution and transport, which have proven an effective tool in facilitating frictionless movement of essential medical goods across borders.
Besides, it intends that WTO members will make best efforts to temporarily remove or reduce tariffs on goods that are considered essential to fighting Covid-19 pandemic.
The global trade body's move also aimed at swift response to requests for information on trade measures adopted during the present health crisis, including on measures undertaken to implement this initiative, from any other members, and contributions to international efforts to expand production of essential medical goods and enhance resilience to health crises.
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