African leaders assembled at a global meeting to discuss the status of local pharmaceutical manufacturing on the continent, underscored the need to increase local production of vaccines and therapeutics to achieve greater public-health security.
“The production of vaccines and access to vaccines is an absolute priority,” Cyril Ramaphosa, President of South Africa, said Monday in opening remarks at the start of the two-day virtual meeting, convened by the African Union.
The meeting was attended by several African heads of state, health, finance and trade ministers from across the continent, as well as officials from global financial institutions, foundations, pharmaceutical manufacturers, business leaders, and the general public. The African Development Bank was represented by Solomon Quaynor, Vice President Private Sector, Infrastructure and Industrialization.
Although Africa consumes approximately one-quarter of global vaccines by volume, it manufactures less than 1% of its routine vaccines, with almost no outbreak vaccine manufacturing in place. The region lags behind in procuring vaccines amid a global scramble for the medicines among wealthier nations. Thus far, only around 2% of the world’s vaccination against Covid-19 has taken place in Africa.
The need for a new public health order in Africa, which promotes domestic vaccine manufacturing, epidemic preparedness and upgraded healthcare systems to meet the needs of the world’s fastest-growing population, was the conference’s main objective.
The African Union and the Africa CDC said they would continue to work with all stakeholders to identify implementable actions, financing needs and timelines to competitively produce vaccines in Africa.
Quaynor noted that the current undertaking would require immense investment. “Vaccine manufacturing, because of its complexity, is not really an entrepreneurial drive but actually an institutional drive,” he added.
The African Development Bank is working with global and African stakeholders, to articulate a 2030 vision for Africa’s Pharmaceutical Industry in response to several calls received from African Heads of State, who have expressed a strong political will. This vision aligns with its “industrialize Africa” priority strategy.
The vision will build on previous efforts to produce a continental plan of action to boost local African pharmaceutical manufacturing capacity, such as the Pharmaceutical Manufacturing Plan for Africa adopted in Abuja in January 2005 and the Pharmaceutical Manufacturing Plan for Africa (PMPA), prepared by the African Union Commission and the United Nations in 2012, to assist local manufacturers with pharmaceutical production.
Quaynor said Africa could count on the African Development Bank’s support to secure Africa’s health defense system. “Leveraging on our comparative advantages, we will both provide upstream support to governments on the enabling environment, as well as provide financing to private sector and PPPs both indirectly through some of our private equity investee funds and directly through lending, and credit and risk guarantees. We will also use the Africa Investment Forum to bring in all relevant stakeholders and partner DFIs into bankable opportunities…”
The 2030 vision for Africa’s pharmaceutical industry would also work with pharmaceutical industry associations in Africa to create capacity development links between universities and industry in Africa, and work with African scientists in the diaspora, Quaynor said in remarks made on behalf of African Development Bank President Akinwumi A. Adesina.
China and EU Seek Partnership: Xi Jinping Proposes Key Trade Alliance
Chinese President Xi Jinping expressed his desire for China and the European Union (EU) to become key trade partners and foster trust in supply chains, during a meeting with EU leaders in Beijing.
The talks marked the first in-person summit between the two sides in four years and addressed a range of economic concerns, including data flows and market access.
Xi emphasized China’s commitment to high-quality development and opening up, positioning the EU as a crucial partner in economic and trade cooperation.
He envisioned the EU as a trusted collaborator in industrial and supply chain cooperation, aiming for mutual benefits and win-win results.
The summit delved into longstanding issues, such as efforts by Europe to “de-risk” its supply chains and the EU’s anti-subsidies investigation into Chinese-made electric vehicles.
China criticized the investigation, urging the EU to avoid using it for “trade protectionism.”
Xi called for the elimination of interference between China and the EU, a statement likely directed at the United States, which has taken actions, including enlisting the Netherlands, to curb China’s development of high-end semiconductors.
The EU leaders, Ursula von der Leyen and Charles Michel, described their conversation with Xi as “good and candid.”
They discussed the main challenges amid increasing geopolitical frictions, emphasizing a commitment to balanced trade relations and pledging to enhance people-to-people exchanges.
During the meeting, Italy formally informed China of its exit from the Belt and Road Initiative, highlighting ongoing strains between the EU and China.
Xi discussed Belt and Road with EU leaders, expressing a willingness to connect it with the EU’s Global Gateway infrastructure plan.
However, deep issues remain, including Russia’s war in Ukraine, trade imbalances, and Chinese overcapacity exported to Europe.
Jens Eskelund, president of the European Union Chamber of Commerce in China, stressed the need to address these issues to foster a positive relationship between Beijing and Brussels.
UAE Commits $30 Billion as COP28 Climate Talks Kick Off in Dubai
Nigeria Eyes BRICS Membership within Two Years as Foreign Minister Emphasizes Strategic Alignment
In a strategic move towards global economic collaboration, Nigeria is aspiring to join the BRICS group of nations within the next two years.
The Minister of Foreign Affairs, Yusuf Tuggar, affirmed that Nigeria is open to aligning itself with groups that demonstrate good intentions, well-meaning goals, and clearly defined objectives.
Tuggar stated, “Nigeria has come of age to decide for itself who her partners should be and where they should be; being multiple aligned is in our best interest.”
He emphasized the need for Nigeria to be part of influential groups like BRICS and the G-20, citing criteria such as population and economy size that position Nigeria as a natural candidate.
BRICS, comprising Brazil, Russia, India, China, and South Africa, stands as a formidable bloc of emerging market powers.
In a recent move to expand its influence, BRICS invited six additional nations, including Saudi Arabia, Iran, Egypt, Argentina, Ethiopia, and the United Arab Emirates, to join the group.
Nigeria, as Africa’s largest economy, has been absent from the BRICS alliance, prompting discussions on the potential economic and political advantages the bloc could offer the country.
Analysts have noted that BRICS membership could provide Nigeria with significant leverage on the global stage.
Vice President Kashim Shettima clarified that Nigeria did not apply for BRICS membership after the bloc’s announcement of new members in August.
Shettima emphasized the principled approach of President Bola Ahmed Tinubu, highlighting a commitment to consensus building in decisions related to international partnerships.
As Nigeria eyes BRICS membership, the move is seen as a strategic step towards enhancing its global economic and diplomatic influence.
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