The Director General of the World Trade Organisation, Dr. Ngozi Okonja-Iweala, has noted that African countries can now produce their own COVID-19 vaccines for the next five years.
According to her, "It is not proper that Africa imports 99% of vaccines, therefore the WTO has held the agreement from countries to produce their own vaccines without fear of being sued for patent theft.
Dr. Ngozi, during a meeting with Ghana's trade minister, elaborated on the duties of the World Trade Organization by explaining that it is about enhancing the lives of people and guarding the rules and regulations that govern trade in the world.
She called on Ghana to fast-track the ratification of an agreement to put away 22 million worth of harmful fishing substances that affect the fisheries industry in Ghana.
Ghana’s Minister for Trade and Industry, Kobina Tahir Hammond, called for an enhanced capacity for developing countries to enable them to participate effectively in WTO negotiations and thereby benefit from the Multilateral Trading System.
The Minister also wants the restoration of a fully functional two-tier dispute settlement mechanism, i.e. Panels and the Appellate Body to give the multilateral trading system (MTS) the needed predictability and certainty. Additionally, he is pressing for improving the transparency of governments' trade measures, especially as it pertains to export prohibitions and restrictions as witnessed during the height of the COVID crisis.
