A new bonus episode of the I am BIO Podcast revisits the BIO Digital conversation with WTO Director-General Dr. Ngozi Okonjo-Iweala—just as discussions on the TRIPS waiver are getting ready to restart in Geneva.
ICYMI: The World Trade Organization (WTO) has been on a six-week summer holiday but heads back to work on Monday, September 6—and the proposed waiver of the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) for vaccine technology is expected to be on the agenda.
We need a “pragmatic solution” that allows developing countries access to things like vaccines while “incentivizing research,” Dr. Okonjo-Iweala told BIO’s Dr. Michelle McMurry-Heath during the event.
(Hey, BIO has an idea: our SHARE Program.)
“We need to spend money now…to vaccinate the world,” she continued. Vaccinating enough people will cost upwards of $50 billion, but global GDP will rise by $9 trillion as a result, she added.
Beyond vaccines, the biggest challenge is boosting “the relevance of trade” when it comes to solving major global crises like the pandemic and climate change, she explained. Reducing export restrictions, unlocking bottlenecks (such as those in vaccine manufacturing), and integrating and in some cases reintegrating parts of the world into globalization are key.
On another note, how does the WTO view the role of science-driven agriculture and the role it plays in trade? “Finding climate-friendly ways to feed the population—as you say, science-based approaches—are welcome,” said Dr. Okonjo-Iweala.
But ag is notoriously difficult to negotiate—and we need to align science “with culture and taste” globally, she explained.
For more insights on how the WTO might approach some of these big challenges in the coming months, listen to the whole thing.
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