Ngozi Okonjo-Iweala, the World Trade Organization’s incoming chief on Monday warned against “vaccine nationalism’ that would slow progress in ending the COVID-19 pandemic.
She also said the trend could erode economic growth for all countries which will include the rich and poor.
In an interview immediately after her appointment, Okonjo-Iweala said her top priority was to ensure the WTO does more to address the pandemic, saying members should accelerate efforts to lift export restrictions slowing trade in needed medicines and supplies as the WTO can contribute so much more to helping stop the pandemic.
According to her, No one is safe until everyone is safe. Vaccine nationalism at this time just will not pay because new variants are bound to surface and when other countries are not immunized it will just be a blow back. Moreso it is unconscionable that people will be dying waiting in a queue when we have the technology.
Okonjo-Iweala also noted that studies showed that the global economy would lose $9 trillion in potential output if poor countries were unable to get their populations vaccinated quickly, and about half of the impact would be borne by rich countries while stating that her very top priority would be to make sure that prior to the world trade body’s ministerial conference, that her team come to solutions as to how the WTO can make vaccines, therapeutics and diagnostics accessible in an equitable and affordable fashion to all countries, particularly to poor countries.
Okonjo-Iweala also said she was heartened by the Biden administration’s contribution to the World Health Organization effort to ensure broader distribution of vaccines as well as the Biden administration’s concerns about the need to reform the WTO’s Appellate Body, but asserted that would not be a quick or easy process.
On a successful administration, Dr. Ngozi revealed that she’s not daunted, as she sees a bright future for her at the WTO and With the U.S. administration willing to engage her tenure, she’s hopeful for a successful stay at the world trade body.
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