Asia-Pacific Economic Recovery
Unequal vaccine access has left most of the world's population vulnerable to contracting Covid-19 and to become fertile ground for Covid-19 mutations.
This handout picture taken and released on November 11, 2021 by APEC New Zealand shows China's President Xi Jinping (top L) appearing on a screen via video link during the virtual business conference on the sidelines of the Asia-Pacific Economic Cooperation (APEC) CEO summit hosted by New Zealand in Wellington.
The leaders of the Asia-Pacific Economic Cooperation (APEC) vowed during a virtual summit on Friday (12/11) to address regional economic recovery in the region by continuing to respond to the Covid-19 pandemic, tackling climate issues and strengthening supply chains.
One of the agreed points was to ensure equitable vaccine access by lowering tariffs for procuring Covid-19 vaccines and related medical supplies. The average vaccine tariff is very low, at about 0.8 percent. A different situation prevails in the procurement of medical supplies such as alcohol solutions, primary packaging, freezers equipment, and rubber stoppers. The average tariff on these medical supplies is 5 percent.