Chemicals for pharmaceutical use like glucose syrup Malaysia, personal care etc are being delivered internationally at all hours of the day to assist the world’s recovery from the ongoing pandemic.
It’s safe to assume that a worldwide health recovery will be impossible if key components in protective masks and vaccines are not widely available. However, without functional chemical trading chains, this will not be achievable.
During the COVID-19 pandemic, some of the most serious health and economic issues in decades emerged. Countries all across the world took the required steps to stop COVID-19 from spreading. Plastics, being part of the larger chemical industry, played a critical role in this. Ventilators, COVID-19 test kits, personal protective equipment (PPE), packing material, and other items were provided through the chemical trading.
The chemical trading companies like 3D Resources Sdn Bhd provides essential commodities across the board and serves as a feeder for a wide range of other sectors, making it a driving force behind global economic recovery. As each country continues to work to overcome the difficulties posed by COVID-19, the chemical sector is set to play a vital role. It is believed to have a larger impact in upcoming years, resulting in the creation of new livelihood possibilities and the security of existing ones. For the first time in decades, the chemical industry has become a net exporter, and our industry is addressing both domestic and worldwide demand possibilities.
During the early phase of the pandemic, ensuring access to the medical equipment and related commodities needed to combat COVID-19 was a major issue. No country could efficiently manufacture all of the commodities required to combat the virus, showing the significant degree of trade interconnection among nations.
During the second wave, promising announcements on the efficacy of vaccines in development by Pfizer-BioNTech, Moderna, and Astra-Zeneca/Oxford University, as well as subsequent publication of clinical trial results and marketing authorisations for these products in several OECD countries, have provided a ray of hope. Chemical trade will be crucial in allowing mass manufacturing and dissemination of vaccinations all across the world.
Chemical Trading Role in Vaccine Production
The effectiveness of new COVID-19 vaccines has been confirmed, providing a ray of hope at the end of the tunnel. Vaccine mass production on the other hand, will continue to be a difficulty without the chemical trading industry like shown below:
- Vaccines are required in all countries, yet not all countries are able to manufacture them. Vaccine manufacturing is a highly specialized industry with competitive advantages. As a result, trade will be critical in providing access to COVID-19 vaccinations, particularly for underdeveloped countries.
- The products required to manufacture, distribute, and deliver vaccinations have significant trade interconnections. Aside from the active components needed to make vaccines, distribution and administration necessitates the use of items made in a variety of countries: vials to carry vaccines, syringes to administer, cold boxes to transport, dry ice to keep vaccines cold, and freezers to preserve vaccines.
- COVID-19 vaccine manufacturing is expected to be geographically confined, while demand is worldwide. Vaccine distribution presents substantial logistical problems that can be overcome by:
- Using internet communication hubs to exchange information about current manufacturing facilities and connect new suppliers.
- Increasing international collaboration and coordination to allow vaccinations to traverse borders more smoothly. Standardizing border processes, providing greater logistical coordination, and easing trade-related regulatory burdens, when possible and without endangering safety, may be the best priorities.
The Bottom Line
A functioning world trade system is required by all economic sectors. One in which the flow of chemicals and materials continues to supply the necessary ingredients. As trade becomes more politicized, and many supply chains become more regional, international collaboration frameworks that support an open, fair, and transparent trade system for all stakeholders must be safeguarded to ensure access and promote resilience for the sector, its constituent countries, and nations as a whole. Below is the key reason from the article as to why COVID-19 recovery is dependent on global chemical trading.
- Chemicals and materials are at the center of global disaster responses, such as the current pandemic.
- For effective response, quick recovery, and long-term resilience development, their worldwide availability must be ensured.
- Resilience requires a strong trading system, enhanced cross-sector cooperation, and more organizational flexibility.