• EU’s Dombrovskis sets out plans to boost global vaccine supplies

Market news

19 May 2021

EU’s Dombrovskis sets out plans to boost global vaccine supplies

Bloomberg reports that the European Union’s executive arm will present a proposal to the World Trade Organization calling on other countries to help boost vaccine production capacity in developing countries and export more shots while they explore a possible waiver on patents.

Valdis Dombrovskis, vice president of the European Commission, told the European Parliament that “universal and fair access to vaccines and treatments must be the global community’s number one priority.”

Specifically this would mean committing to limit the application of export restrictions in order to keep supply chains open, and applying no restrictions to exports toward developing countries covered by the Covax aid program.

Dombrovskis said he expected all vaccine producers and developers to make concrete pledges to support increased supplies to vulnerable and developing countries.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.