March 25, 2021
1 min read

‘UK has exclusive deal with AstraZeneca’

The UK and the EU also issued a joint statement on Wednesday evening, stating they were working on a “win-win situation” to “expand vaccine supply for all our citizens”…reports Asian Lite News.

UK Health Secretary Matt Hancock said on Thursday the country has an “exclusive” contract with coronavirus vaccine developer AstraZeneca, while the European Union’s is based on a “best efforts” basis.

Hancock told the Financial Times that both sides were looking to resolve a dispute surrounding vaccine delivery, reports dpa news agency.

But he added the bloc should not try and suspend the export of vaccines from a site in the Netherlands to the UK, due to the nature of the contractual agreements they have with the British-Swedish pharmaceutical giant.

AstraZeneca vaccine

“I believe that free trading nations follow the law of contracts,” he told the newspaper on Thursday.

“They have a ‘best efforts’ contract and we have an exclusivity deal.

“Our contract trumps theirs. It’s called contract law — it’s very straightforward,” Hancock added.

On Wednesday, the EU tightened controls of its vaccine exports further, allowing shipments headed almost anywhere to be halted.

The move triggered warnings from the UK, a major recipient of EU-produced jabs.

Member states including Belgium and Ireland have voiced concern about the potential backlash to blockades.

The UK and the EU also issued a joint statement on Wednesday evening, stating they were working on a “win-win situation” to “expand vaccine supply for all our citizens”.

Also Read-EU revises vaccine export system

Read More-UK to fine £5,000 for holidaying abroad

Previous Story

UAE, UK launch sovereign investment partnership

Next Story

Tough to meet May 1 Afghan troop exit deadline: Biden

Latest from -Top News

ATM 2025 set for record turnout

Registrations have surged by an impressive 104% compared to the same period last year, underscoring ATM’s growing influence in the international travel trade landscape. With just three weeks to go until the

UAE team aids Myanmar relief efforts

The search and rescue operation will take place across six locations in Myanmar, with teams working in rotating morning and evening shifts to expedite response efforts and reach as many affected areas

Trump due in Saudi, UAE amid new tariffs

The GCC bloc, which includes the UAE, Saudi Arabia, Oman, Kuwait, Qatar, and Bahrain, has been hit with a 10% tariff, placing them among the lower-tiered rates US President Donald Trump has

China Says US Tariff Hikes Violate WTO Rules

China is among the hardest-hit, facing a 34 per cent levy—part of what Washington describes as reciprocal measures aimed at rebalancing trade deficits and curbing unfair trade practices China has strongly condemned
Go toTop

Don't Miss

Bangladesh ready to dethrone China as EU’s top clothing exporter

In the wake of the conflict in Ukraine and other

UK’s Royal Naval Ship HMS Spey visits Kochi

During the port call at Kochi, professional and social interactions