Asia Pacific trade ministers debate proposal to remove tariffs for COVID-19 vaccines

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Ministers from the Asia Pacific trade group APEC are set to discuss a proposal from New Zealand to remove tariffs on COVID-19 vaccines and related medical products.

Trade ministers from the Pacific Rim were discussing ways to build back better from the pandemic in an online meeting Saturday hosted by New Zealand.

In a move that could ease delays in delivering vaccines more widely, New Zealand wants APEC's 21 members to agree on"best practices guidelines" on the movement of vaccines and related medical products across borders, a person familiar with the talks told Reuters. Much is at stake: beyond potential lives saved or lost, trade in vaccines and related supplies and equipment was estimated at $418.5 billion in 2019, according to the latest available data, and likely surged in 2020.

Source: Healthcare Press (healthcarepress.net)

 

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