Ministers from the Asia-Pacific trade group APEC on Saturday agreed to review trade barriers and expedite the cross-border transit of <a href="https://www.wionews.com/topics/coronavirus-vaccine">COVID-19 vaccines</a> and related goods but stopped short of a broad commitment to remove tariffs.

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Also Read |&nbsp;<a href="https://www.wionews.com/world/where-do-vaccine-doses-go-and-who-gets-them-the-algorithms-decide-362143">Where do vaccine doses go, and who gets them? The algorithms decide</a>

A meeting of trade ministers from the 21-economy group, which includes the United States, China and Japan, also produced pledges to support World Trade Organization negotiations for an intellectual property waiver on <a href="https://www.wionews.com/topics/coronavirus">COVID-19</a> vaccines.<o:p></o:p>

In three statements issued after the meeting, the ministers said they would "expedite the flow and transit of all COVID-19 vaccines and related goods through their air, sea and land ports."

<o:p>Also Read |&nbsp;<a href="https://www.wionews.com/world/who-chief-urges-covid-19-vaccine-makers-to-advance-doses-for-covax-385692">WHO chief urges COVID-19 vaccine makers to advance doses for COVAX</a></o:p>

"We will consider voluntary actions to reduce the cost of these products for our people, particularly by encouraging each economy to review its own charges levied at the border on COVID-19 vaccines and related goods," one statement said.<o:p></o:p>

The ministers also said they were committed to working to facilitate the movement of essential goods and minimize disruptions to networks critical to keeping supply chains operating smoothly.

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Also Read |&nbsp;<a href="https://www.wionews.com/world/colleges-say-students-must-get-a-covid-vaccine-but-no-not-that-one-389614">Colleges say students must get a Covid vaccine. But no, not that one.</a>

"APEC economies should prioritise identifying unnecessary barriers to trade in any relevant services that may hinder expediting and facilitating the movement of essential goods, and should ensure consistency of any such barriers with their World Trade Organization" obligations, the statement said.<o:p></o:p>

Best Practices<o:p></o:p>

Vaccine-related trade barriers, including export restrictions, tariffs and other import barriers, have been viewed as contributing to a relative lack of vaccine access in developing countries.

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Also Read |&nbsp;<a href="https://www.wionews.com/world/european-union-and-uk-raise-doubts-about-covid-19-vaccine-patent-waiver-388679">European Union and UK raise doubts about COVID-19 vaccine patent waiver</a>&nbsp;

Average APEC tariffs on vaccines are low at around 0.8 per cent, but other goods important in the vaccine supply chain face higher tariffs. Alcohol solutions, freezing equipment, packaging and storage materials, vials and rubber stoppers face average tariffs above 5 per cent, and tariffs can be as high as 30 per cent in some APEC economies.<o:p></o:p>

Prior to the start of the virtual meeting, host New Zealand had wanted APEC members to agree on "best practices guidelines" on the movement of vaccines and related medical products across borders, a person familiar with the talks told Reuters

Also Read |&nbsp;<a href="https://www.wionews.com/world/resisting-patent-waiver-eu-submits-vaccine-plan-to-wto-389616">Resisting patent waiver, EU submits vaccine plan to WTO</a><o:p></o:p>

APEC gatherings in recent years have struggled to reach agreements due to former US President Donald&nbsp;Trump's trade war with China. The new Biden administration has promised a more multilateral approach.<o:p></o:p>

New Zealand viewed an agreement as important to show that APEC is responsive and relevant to the crisis facing the world.<o:p></o:p>

Vaccine IP Waiver<o:p></o:p>

The ministers said they will work proactively and urgently in WTO negotiations aimed at agreeing on a temporary waiver of intellectual property rights on vaccines "as soon as possible" and no later than the WTO's ministerial conference scheduled for the end of November.

<o:p>Also Read |&nbsp;</o:p><a href="https://www.wionews.com/world/wto-head-urges-g20-leaders-to-negotiate-ip-waiver-386567">WTO head urges G20 leaders to negotiate IP waiver</a>

US Trade Representative Katherine Tai, who last month announced her support for a waiver, told a news conference before the meeting that she was encouraged by the progress of those talks.<o:p></o:p>

"What I've heard from these few days of interaction with my fellow ministers from the APEC region is broadly an agreement that we need to increase access to vaccines, increase supply of vaccines," Tai said.

<o:p>Also Read |&nbsp;<a href="https://www.wionews.com/world/eu-calls-on-us-others-to-export-vaccines-rather-than-talk-about-ip-waiver-383578">EU calls on US, others to export vaccines,&nbsp;rather than talk about IP waiver</a></o:p>

New Zealand's trade minister, Damien O'Connor, said there is a range of challenges around the production and distribution of vaccines that can be addressed to improve supply around the world, but gaining patent waivers could still be an obstacle.<o:p></o:p>

"Having looked at all those challenges, if it is IP that is holding us back, I think that there will be consensus reached at the WTO. And I think as APEC economies, we certainly are going to ask for that to be considered seriously," he said.

<o:p>Also Read |&nbsp;<a href="https://www.wionews.com/world/vaccine-makers-oppose-ip-waiver-say-manufacturing-hurdles-slowing-rollout-379755">Vaccine makers oppose IP waiver, say manufacturing hurdles slowing rollout</a></o:p>

The APEC trade ministers also said the WTO needed to strengthen its credibility by concluding decades-long negotiations to curb harmful fisheries subsidies, with a "comprehensive and meaningful agreement" by July 31.<o:p></o:p>

The group called on its member officials to explore options to undertake a "potential voluntary standstill on inefficient fossil fuel subsidies," with a progress report expected in November.&nbsp;

Ministers from the Asia-Pacific trade group APEC on Saturday agreed to review trade barriers and expedite the cross-border transit of COVID-19 vaccines and related goods but stopped short of a broad commitment to remove tariffs.

Ministers from the Asia-Pacific trade group APEC on Saturday agreed to review trade barriers and expedite the cross-border transit of COVID-19 vaccines and related goods but stopped short of a broad commitment to remove tariffs. Also Read | Where do vaccine doses go, and who gets them? The algorithms decide A meeting of trade ministers from the 21-economy group, which includes the United States, China and Japan, also produced pledges to support World Trade Organization negotiations for an intellectual property waiver on COVID-19 vaccines. In three statements issued after the meeting, the ministers said they would "expedite the flow and transit of all COVID-19 vaccines and related goods through their air, sea and land ports." Also Read | WHO chief urges COVID-19 vaccine makers to advance doses for COVAX "We will consider voluntary actions to reduce the cost of these products for our people, particularly by encouraging each economy to review its own charges levied at the border on COVID-19 vaccines and related goods," one statement said. The ministers also said they were committed to working to facilitate the movement of essential goods and minimize disruptions to networks critical to keeping supply chains operating smoothly. Also Read | Colleges say students must get a Covid vaccine. But no, not that one. "APEC economies should prioritise identifying unnecessary barriers to trade in any relevant services that may hinder expediting and facilitating the movement of essential goods, and should ensure consistency of any such barriers with their World Trade Organization" obligations, the statement said. Best Practices Vaccine-related trade barriers, including export restrictions, tariffs and other import barriers, have been viewed as contributing to a relative lack of vaccine access in developing countries. Also Read | European Union and UK raise doubts about COVID-19 vaccine patent waiver Average APEC tariffs on vaccines are low at around 0.8 per cent, but other goods important in the vaccine supply chain face higher tariffs. Alcohol solutions, freezing equipment, packaging and storage materials, vials and rubber stoppers face average tariffs above 5 per cent, and tariffs can be as high as 30 per cent in some APEC economies. Prior to the start of the virtual meeting, host New Zealand had wanted APEC members to agree on "best practices guidelines" on the movement of vaccines and related medical products across borders, a person familiar with the talks told Reuters Also Read | Resisting patent waiver, EU submits vaccine plan to WTO APEC gatherings in recent years have struggled to reach agreements due to former US President Donald Trump's trade war with China. The new Biden administration has promised a more multilateral approach. New Zealand viewed an agreement as important to show that APEC is responsive and relevant to the crisis facing the world. Vaccine IP Waiver The ministers said they will work proactively and urgently in WTO negotiations aimed at agreeing on a temporary waiver of intellectual property rights on vaccines "as soon as possible" and no later than the WTO's ministerial conference scheduled for the end of November. Also Read | WTO head urges G20 leaders to negotiate IP waiver US Trade Representative Katherine Tai, who last month announced her support for a waiver, told a news conference before the meeting that she was encouraged by the progress of those talks. "What I've heard from these few days of interaction with my fellow ministers from the APEC region is broadly an agreement that we need to increase access to vaccines, increase supply of vaccines," Tai said. Also Read | EU calls on US, others to export vaccines, rather than talk about IP waiver New Zealand's trade minister, Damien O'Connor, said there is a range of challenges around the production and distribution of vaccines that can be addressed to improve supply around the world, but gaining patent waivers could still be an obstacle. "Having looked at all those challenges, if it is IP that is holding us back, I think that there will be consensus reached at the WTO. And I think as APEC economies, we certainly are going to ask for that to be considered seriously," he said. Also Read | Vaccine makers oppose IP waiver, say manufacturing hurdles slowing rollout The APEC trade ministers also said the WTO needed to strengthen its credibility by concluding decades-long negotiations to curb harmful fisheries subsidies, with a "comprehensive and meaningful agreement" by July 31. The group called on its member officials to explore options to undertake a "potential voluntary standstill on inefficient fossil fuel subsidies," with a progress report expected in November.

APEC ministers pledge to expedite transit of COVID-19 vaccines, related goods

The Mexican government is considering a $120 million bid for the luxurious Boeing 787 Dreamliner presidential jet after an anonymous buyer offered to pay a part of the total amount in cash and the other part in medical equipment, as per government officials.

The Mexican government is considering a $120 million bid for the luxurious Boeing 787 Dreamliner presidential jet after an anonymous buyer offered to pay a part of the total amount in cash and the other part in medical equipment, as per government officials. Mexico's President Andres Manuel Lopez has been planning to sell the presidential jet since 2018 for displaying more frugal government. Week ago, Lopez travelled in the economy class on a commercial airline to a summit with US President Donald Trump. Jorge Mendoza, head of state-owned development bank involved in the sale, held a news conference where he said that the president had instructed him not to offload the jet, and other planes and helicopters on sale, for less than their value. "The offer is in cash and also a part in medical equipment," Mendoza said, adding that he could not yet give more details or identify the buyer for reasons of confidentiality. Mexico has been struggling to get medical equipment supplies including oxygen, ventilators and masks during the coronavirus pandemic. Both the United States and China's governments have helped the country with equipment. The luxurious jet was acquired by former President Enrique Pena Nieto in 2012. Earlier in January, a buyer offered the government $125 million for the jet but the deal was off as they could not sell it below a United Nations-backed valuation of $130 million. The reasons why the lower offer is being considered are unknown. The government has separately launched a raffle aimed at raising the value of the plane in return for cash prizes. (Inputs from Reuters)

Mexico considers selling its luxurious presidential jet in barter deal

Medical equipments are the most crucial to fight coronavirus battle. As the pandemic worsens the panicked governments have been accused of using various methods to buy supplies in the battle against coronavirus. Watch report:

Fineprint: Countries report shortage of COVID-19 medical equipments