G-20 Trade Ministers Talk WTO Reform, COVID-19 Vaccine Distribution
Trade ministers from the G-20 nations said they will continue to support reform of the World Trade Organization and restoration of a functioning dispute settlement system, and that they recognize how important it is that any trade measures related to COVID-19 are “targeted, proportionate, transparent [and] temporary,” and don't create unnecessary disruption to global supply chains. The statement was released Sept. 22, at the end of a virtual G-20 summit.
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They said they believe it's important for trade and investment policies to ensure all countries have access to essential medical supplies and drugs -- including vaccines -- at an affordable price. “We also recognize the need to increase the sustainability and resilience of national, regional, and global supply chains and to expand production capacity and trade, notably in the areas of pharmaceutical, medical and other health-related products,” they said. Not all the countries agreed, but many of the countries said there's a “need to strengthen international rules on industrial subsidies.”