Why world trade and related issues are crucial in the fighting COVID19?

Trade took on toll as of #COVID19 outbreaks.

Trump”s trade war with China and China signed a trade deal with USA is now seems cost to US citizens in fighting against corona. Trade, both imports & exports is a powerful, cost-effective tool to mitigate the potentially devastating effects of COVID-19. All countries should quickly implement trade policies that can protect lives across the world by improving access to affordable medical supplies. Policies that put this access at risk should be restrained. Global cooperation is critical to meeting this challenge. Trade can play key role in recovery as #COVID19 wreaks ruins across industries worldwide. 

Set international stage for trade measures to back the health systems and stand with Humanity (Lives)

Lower tariffs on pharmaceuticals, medical devices, $ other medical supplies. Tariff rates on pharma & medical equipment are low but other protective instruments & back side of medical instruments required to fight the virus still face tariffs & non-tariff barriers (USA itself imposed many barriers to Indian pharma, somehow liberate after Hydroxychloroquine issue). Tariffs in health & hygiene products are a regressive form of taxations that targets the poor, they left without products as of non-available of money, being this lack of hygiene, virus spread at community level, for such reasons slum area, are more prone to the outbreak of virus (Ex. Dharavi Slum in Mumbai). Reducing such protectionist measures could also the low input cost in health industry. According to WCO (World Customs Organization) many nations have already announced tariff reduction in critical medical supplies. US still continues tariff on imports from China on ventilators and other medical products throws citizen with risk on name on protection of domestic industry by Trump in his Trade deal with China.

Easy trade and facilitate other aspects

Import-export takes a time to reach the designated place with extra time on clearance( Yes machineries(of Textile) and raw from China remain uncleared (since 15 March) at JN port Bombay but non-essential, not required yet)  movement of health-related goods and imported inputs to mfg these products can be disrupted by lengthy and inefficient customs, broad  border procedures with logistical obstacles, preventing timely access to critical products. China and Europe established Green Lane to mitigate delayed in clearing cargo. To support trade, finance is an essential key element, flowing and maintain the chain required so to make hassle-free deal. 

Cross border movement and transit visa facilities to heath professional and associate business personalities.

Stating blanket ban in immigration & travel could throws negative effects to pharma companies & health experts who associate with COVID19 related researches. Movement of physicians, nurses & health professionals is needed, especially in poorer countries. Flexible regulatory measures, special visas, and work permits can help to those we essential to travel for the reason. (Cuba is ready to provide health experts already they provided to Lombardy-Italy) A common international framework to support the temporary movement of health professionals across countries. Make sure intellectual property regime do not enter in novice development of tech. and drugs in fighting COVID19. Bunch of companies and institutes racing for development diagnosis, vaccine and antiviral drugs. Collective action could bring greater certainty to safeguard access by all.

WTO & International framework for trade 

WHO parroting to China only while WTO bark dog of USA, both are remain ineffective in this pandemic? After Doha round no single effective consensus could established. International organizations (WHO & WTO) by regular follow up and with effective mechanisms, avoid politically appealing, self-defeating trade policies could mitigate the trade issue at certain level. WTO hobbled as it has been late in provides a forum for countries to agree to refrain from export bans. It can also facilitate an agreement to eliminate tariffs and nontariff barriers on health-related products. Need to encourage progress on the other steps, like common framework on cross-border movement of health professionals and a collective understanding that the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights does not limit governments’ actions to safeguard affordable access for new vaccines and drugs. As of G20 ministers agreed to ensure uninterrupted movement of essential trades, required all member nation of WTO come to in cooperation for that.

 Post Covid19 issue

The post-COVID-19 world economy will require more global trade cooperation. Global trade rules will be needed to foster investment and trade. Reforming the WTO has become more pressing than ever to help update rules in line with the dramatic changes. If bull (USA) or Elephant(China) dance in room cooperation will never reach. Make sure all are same with equal amount of representation. #StayHomeBeSafe