Trade in health products has been flourishing as more and more people demand better health. But countries around the world still apply tariffs and nontariff measures that jack up prices and curb the entry of pharmaceuticals, vaccines, and medical equipment.
Trade in these products should be liberalized to bring down their prices and ensure they aren’t stuck in customs warehouses. Insulin, for example, is cheaper in open trade regimes which ensures competition between providers. Bringing down trade barriers can help greatly in building up health systems and lowering patients’ costs.
To find out more about trade and health, and other links between trade and the Sustainable Development Goals, read our latest book.
About the Author
Matthias Helble is an Economist in the Asian Development Bank’s Economic Research and Regional Cooperation Department and an Adjunct Fellow at ADBI.
Comments are closed.