To build collective long-term resilient supply chains, a partnership of 18 economies – including India, the US, and the European Union (EU) – has unveiled a four-point roadmap that includes steps to counter risks arising from supply dependencies and vulnerabilities.
On Wednesday, the roadmap was outlined in a joint statement following a virtual supply chain ministerial meeting hosted by the US secretary of state Antony Blinken and secretary of commerce Gina Raimondo. The meeting was a follow-up to the supply chain summit convened by US President Joe Biden last October.
According to the statement, the roadmap for building resilient supply chains is based on the global principles of transparency, diversification, security, and sustainability. “Building collective, long-term resilient supply chains based on international partnerships are critical to the success of this effort,” the statement said.
The partners highlighted their intention of deepening their consultations to identify and address risks arising from supply dependencies and potential vulnerabilities in critical infrastructure and to promote supply chain security.
“We intend to work together to address our mutual vulnerabilities and work to eliminate corruption in support of supply chain security,” the statement said, adding this cooperation will involve partnerships with industry, labour, civil society, and other relevant stakeholders to manage security risks to supply chains.
Along with India, the US and the EU, other economies that came together for this joint collaboration include Australia, Brazil, Canada, Congo, France, Germany, Indonesia, Italy, Japan, Mexico, the Netherlands, South Korea, Singapore, Spain, and the UK.