The global pharmaceutical industry welcomes today’s communiqué and the commitment by G7 partners to future discussions on trade and health.
Barriers to free trade serve no one, least of all patients. Today’s communiqué sends a positive signal that world leaders understand the unbreakable link between trade and resilient global supply chains. Joint statement
“Free and open trade is vital for getting medical supplies, medicines, and vaccines to where they are needed in times of crisis. Right now, global supply chains are distributing COVID-19 vaccines around the world as quickly and safely as possible.
“Barriers to free trade serve no one, least of all patients. Today’s communiqué sends a positive signal that world leaders understand the unbreakable link between trade and resilient global supply chains.
“It is vital that this is turned into action, with a concrete agreement that strengthens global trade and doesn’t put unnecessary barriers in the way of our response to current and emerging health threats.”
Richard Torbett, Chief Executive, the Association of the British Pharmaceutical Industry
Thomas Cueni, Director General, International Federation of Pharmaceutical Manufacturers & Associations
From ambition to action
The pharmaceutical industry urges G7 partners to move swiftly to translate the joint aspiration set out today into a new meaningful, plurilateral agreement between countries that goes beyond COVID-19-related products and includes, at a minimum:
- Expanding the elimination of tariffs on all finished medicines and pharmaceutical inputs so as to reflect recent scientific breakthroughs and cover the newest, most innovative medicines, vaccines, and treatments.
- Commitments to proportionate and transparent trade responses to public health emergencies, avoiding counterproductive restrictions on imports and exports.
- Deepening regulatory cooperation to develop international best practices in pharmaceuticals and reflect those in domestic regulation.
The principles at the heart of this new agreement should match those of the global trading system: openness and fairness. COVID-19 has given us an opportunity to reassert those principles at the heart of life sciences trade so that we are better prepared for future health crises.
This month the global pharmaceutical industry has published five steps to urgently advance COVID-19 vaccine equity.
Last modified: 20 September 2023
Last reviewed: 20 September 2023