WTO Countries Took About 250 Measures To Ease Trade Since Start Of Pandemic

GENEVA (UrduPoint News / Sputnik - 30th July, 2021) The World Trade Organization (WTO) member countries have implemented 384 COVID-19 related measures since the pandemic started, while about 250 of them are intended to facilitate trade, a report presented by WTO Director General Ngozi Okonjo-Iweala on Thursday said.

"Since the outbreak of the pandemic, 384 COVID-19 related trade measures in the area of goods have been implemented by WTO Members and Observers, of which 248 (65%) were of a trade facilitating nature and 136 (35%) could be considered trade restrictive," the report said.

Several countries reduced their tariffs on a variety of goods, including personal protective equipment, sanitizers, disinfectants, medical equipment and medicines, while 60% of undertaken facilitating measures were aimed at the elimination or reduction of import tariffs and import taxes, the report specified.

As for the trade restrictive measures, 84% of them were export restrictions, according to the report.

On Wednesday, the WTO countries failed to reach a consensus on a temporary waiver of intellectual property rights for COVID-19 vaccines.