Support for waiver
THE Ministry of Commerce, Trade, Tourism and Transport has called upon the WTO members in the region to show support to the waiver of intellectual property protections for COVID-19 vaccines and therapeutics.
During the Forum Trade Officials Meeting on Friday, MCTTT permanent secretary and chair Shaheen Ali said the resumption of business and travel was important for catalysing economic recovery in the region.
"Worldwide access to vaccines offers the best hope for stopping the coronavirus, saving lives, and securing a broad-based economic recovery," he said.
"Everyone should have access to vaccines, including people in developing and least-developed countries.
"It has been more than eight months since a proposal to waive intellectual property protections for COVID-19 vaccines and therapeutics was tabled to the WTO."
Mr Ali added Fiji and Vanuatu had joined as sponsors of the proposal, which was first made by India and South Africa last year.
"The waiver request also includes COVID-19 tests, treatments and personal protective equipment (PPE), albeit only for the duration of the pandemic.
"The pandemic has exacerbated inequalities throughout the world.
"Without access to vaccines, the gap will widen further.
"I call for the waiver as this is highly critical for the recovery of the lives and livelihoods of our region."
He also said the economy could recover faster unless everyone recovers in tandem.
"Micro, small and medium enterprises (MSMEs) are one of the hardest hit by this pandemic.
"Therefore, there is a need for targeted support, to help our MSMEs pivot and remain competitive.
"Businesses will need to think about improving their supply chain resilience, diversifying products, and developing digital capabilities.
"It is encouraging to see that many businesses are not standing still during this period."
Many businesses were even seizing new growth opportunities which had emerged, and working together to emerge stronger from this pandemic.
"Amid the slowing economic activity, there is a surge in ecommerce and accelerated digital transformation," said Mr Ali.
"Businesses and consumers that were able to 'go digital' have helped mitigate the economic downturn and business restrictions.
"This will also speed up a digital transition that will have lasting impacts on our societies."