FILE PHOTO: The Pfizer COVID-19 vaccine is administered to a high-risk worker in MelbourneMELBOURNE: Ministers from Asia-Pacific trade group APEC on Saturday agreed to expedite the transit of COVID-19 vaccines and related goods, but stopped short of agreeing to remove tariffs on them.
In a statement after the meeting, APEC ministers said they would"expedite the flow and transit of all COVID-19 vaccines and related goods through their air, sea and land ports." APEC gatherings in recent years have struggled to reach agreements due to then-U.S. President Donald Trump's trade war with China. The new Biden administration has promised a more multilateral approach."The successful distribution of vaccines across our region will be critical to our recovery," New Zealand's trade minister Damien O'Connor had told reporters ahead of the meeting.
Alcohol solutions, freezing equipment, packaging and storage materials, vials and rubber stoppers face average tariff rates above 5per cent, and import tariffs can be as high as 30 per cent in some APEC economies.
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