World leaders seek ways to strengthen global supply chains

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ROME, October 31 (Reuters) – US President Joe Biden and 16 other world leaders on Sunday discussed steps to make supply chains more resilient to any future health crisis, as well as climate change and even disease. planned attacks.

Supply chain issues have emerged as the global economy has pulled out of a pandemic-induced recession and threatens to slow the recovery. They have already fueled inflation.

“We need to act now, with our private sector partners, to reduce the backlogs we face. And then, we need to prevent that from happening again in the future,” Biden told world leaders at a meeting. . to address supply chain bottlenecks on the fringes of the G20 in Rome.

“Now that we have seen how vulnerable these global trade lines can be, we cannot resume our operations as usual. This pandemic will not be the last global health crisis we face. We must also increase our resilience to climate change, natural disasters and even planned attacks, ”he said.

In addition to the United States, leaders and representatives of the European Union, Australia, Great Britain, Canada, Democratic Republic of the Congo, Germany, Indonesia, India, Italy, Japan, Mexico, Netherlands, Republic of Korea, Singapore and Spain participated in the Meeting.

US President Joe Biden speaks at an event on the resilience of the global supply chain through the pandemic and the recovery of the coronavirus disease (COVID-19), on the sidelines of the G20 leaders’ summit in Rome, Italy, October 31, 2021. REUTERS / Kevin Lamarque

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A written summary of the White House talks indicates that countries have expressed willingness to work together to make supply chains more resilient. He said they agreed to work for more transparency and information sharing between countries and on the need to have multiple reliable suppliers of raw materials, intermediates and finished products.

“Openness and communication can foster a rapid response to disruptions in supply chains – like those the world is currently facing – and enable other actors in a supply chain to take mitigating action”, the White House summary said.

“We must avoid unnecessary trade restrictions and maintain the free movement of goods and services,” he said.

The leaders also stressed the need for security, especially in technological supply chains, and fair and sustainable working conditions and said they would work with the private sector to achieve these goals.

(This story was passed on to correct a typo in the title)

Reporting by Jeff Mason; edited by Barbara Lewis

Our standards: Thomson Reuters Trust Principles.

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