The World Trade Organization’s (WTO) incoming Director-General, Dr Ngozi Okonjo-Iweala has warned against “vaccine nationalism”, saying that it would slow progress in ending the COVID-19 pandemic and could erode economic growth for all countries – rich and poor.
In her first interview after her appointment on Monday, 15th February, Dr Okonjo-Iweala stressed that her top priority is to ensure the WTO does more to address the pandemic. She called on members to accelerate efforts to lift export restrictions slowing trade in needed medicines and supplies.
“The WTO can contribute so much more to help stop the pandemic. No one is safe until everyone is safe. Vaccine nationalism at this time just will not pay, because the variants are coming. If other countries are not immunised, it will just be a blowback. It’s unconscionable that people will be dying elsewhere, waiting in a queue, when we have the technology.”
Dr Okonjo-Iweala made reference to studies that 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 effect would be borne by rich countries.
“Both on a human health basis, as well as an economic basis, being nationalistic at this time, is very costly to the international community.
“A very top priority for me would be to make sure that prior to the very important ministerial conference … that we 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.”
The incoming WTO Chief said she was buoyed by the contribution of US President Joe Biden’s administration to the World Health Organization’s effort to ensure a broader distribution of vaccines.
“I think our interests and priorities are aligned. They want to bring the WTO back to its purpose. It’s about people. It’s about inclusivity. It’s about decent work for ordinary people.”
Dr Okonjo-Iweala also said she shared the Biden administration’s concerns about the need to reform the WTO’s Appellate Body, noting that it would not be a quick or easy process. The Appellate Body which is for the settlement of disputes has been ineffective since last year, after the administration of former US President Donald Trump refused to approve the appointment of more judges.
“This is the jewel in the crown of the WTO, and we really need to restore it”
Dr Okonjo-Iweala also noted that there were clearly differences among members but progress was possible, especially given the shift in tone and approach of the Biden administration.
“I’m not daunted. I see a way forward. With the US administration being willing to engage … I think the way of working to try and get a solution will be different.”
The former Nigerian Finance Minister and senior World Bank Executive starts her new job as the Director-General of the WTO on March 1.
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