Cooperate in buying COVID vaccines in bulk to avoid competition, EU to global leaders

The European Commission, the EU executive arm, is worried that such competition could raise the prices of vaccines for everyone, and also leave many countries, mostly poor ones, struggling to obtain a supply.

"When it comes to fighting a global pandemic, there is no place for 'me first'," Ursula von der Leyen, President, EU Commission said.

The EU is planning to spend around $2.3 billion on the advance purchase of vaccines in testing on behalf of the 27 EU states.

EU countries are also pursuing their own initiatives, with Germany, France, Italy and the Netherlands making a joint deal last week with AstraZeneca to buy upfront its vaccine under development.

Washington has so far made clear it is prioritising its own citizens for COVID-19 vaccines.

Von der Leyen said she is trying to convince "a significant number" of world leaders to join forces and buy vaccines upfront together.

Read also: AstraZeneca to supply 400 million doses of COVID-19 Vaccine to Europe