India adopts joint statement at US forum on supply chains
ON behalf of partner economies including India, the US state department on Wednesday (20) released a Joint Statement of the 2022 Supply Chain Ministerial Forum, focusing on the global challenges which include the Covid-19 pandemic, wars, conflicts and climate change.
‘The shocks to global supply chains from pandemics, wars and conflicts, extreme climate impacts, and natural disasters have put in stark relief the urgent need to strengthen supply chains further, to work to reduce and end near-term disruptions, and to build long-term resilience. This is a global challenge we intend to approach resolutely and cooperatively,' the joint statement read.
The partner economies include Australia, Brazil, Canada, the Democratic Republic of the Congo, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, the Netherlands, the Republic of Korea, Singapore, Spain, the United Kingdom, and the United States.
According to the statement, for building collective long-term resilient supply chains based on international partnerships, all the partner countries aimed to follow various global supply chain principles including transparency, diversification, security and sustainability.
Secretary of State Antony Blinken and Secretary of Commerce Gina M. Raimondo co-hosted the forum on July 19-20, 2022, to further build cooperation with stakeholders and key partner nations on supply chains.
The virtual event convened stakeholders from labor, industry, civil society – including historically underrepresented voices – and subnational officials to address both shortterm bottlenecks and longer-term supply chain challenges.
The summit was part of the Biden Administration's response to address supply chain disruptions that hamper economic recovery and fuel inflation.