NSU organises webinar on trade in vaccines, medicines, and essentials in the post-pandemic world
The Department of Law, North South University organised a webinar on the topic 'From Self Sufficiency to Collective Security: How the Covid Pandemic Should Reshape How We Think about Trade in Vaccines, Medicines, and Essentials' on 30 March 2022. The guest speaker was Mr. Michael Ewing-Chow, Associate Professor and WTO Chair, Faculty of Law, National University of Singapore. Dr Md. Rizwanul Islam, Chair, Department of Law, North South University, gave the introductory remarks.
Professor Ewing-Chow observed that human beings are self-interest-driven, but there is a scope for collective or enlightened self-interest. He remarked that even during acute scarcity, we should not act in a selfish manner. He highlighted that on one hand, by relying on trade and rational stockpiling to absorb sudden shocks in the supply chain, a country like Singapore can achieve self-sufficiency of food supply. Singapore has been planning for long term food security using the "three basket strategy" by diversifying food, growing food both locally and oversees. Professor Ewing-Chow also presented statistics on how the use of technology, greater creativity and better allocation of resources has increased food production significantly. However, even with so much disposable cash, a country like Saudi Arabia would find it very difficult to achieve self-sufficiency in food production due to their unwavering efforts of increasing wheat production, which was economically and environmentally unsustainable. Professor Ewing-Chow observed that contrary to the Malthusian prediction, even accounting for climate-change-induced threats, there would likely be much more food in decades to come. But that does not guarantee a hunger-free world unless we can ensure even distribution. Additionally, he argued that the main trigger for the food price shock of 2008 was not a bad harvest but rather export restrictions and the prospect of export restrictions fueling speculation. In order to prevent such food insecurity in the future and to ensure smooth supplies of medicines and vaccines altogether, countries need to implement appropriate mercantilist policies as pursued by many states.
Professor Ewing-Chow shared his experience in playing a role in drafting the Regional Rice Agreement for ASEAN +3 (i.e., ASEAN member states and China, Japan, and South Korea) to effectively deal with the rice crisis. He revealed that he could effectively convince the policymakers that any origin non-neutral rice would flout the WTO law and underscore the need for maintaining a virtual rice reserve for the member states of the ASEAN+3 Free Trade Agreement. He noted that though there is some justifiable unease about the Trade Related Aspects of the Intellectual Property Rights (TRIPS), one needs to remember that it is not possible to pool huge resources for inventing vaccines without any intellectual property protection. He commented that it is important that the global rules-based trading system be based on collective action to tackle existential threats posed to humanity, such as the Covid-19 pandemic or climate change.
Professor Ewing-Chow commented that he thinks that the fear about the safety of the generic medicine produced by the developing and least developed countries is often exaggerated. He concluded his thought-provoking speech by observing that no human being, no country is an island which can survive by solely focusing on itself. Scarcity can be caused by a lack of imagination or industry, or both. Post pandemic, the world should be as such that is more in accord with our views of what society should be like. "We can do better and indeed we should do it together", Professor Ewing-Chow observed.
The speech of Professor Ewing-Chow was followed by a question answer-session moderated by the Chair, Department of Law, North South University. This was the 25th webinar of the international webinar series of the Department of Law, North South University, which was launched in January 2021.
Event report by Sayere Nazabi Sayem, Undergraduate Teaching Assistant , Department of Law, North South University.