World leaders are looking for ways to strengthen global supply chains

(Correction to correct a typo in the title)

Author: Jeff Mason and Jan Strupczewski

ROME (Reuters) – U.S. President Joe Biden and 16 other world leaders on Sunday discussed measures to make supply chains more resilient to potential future health crises, as well as climate change and even planned attacks.

Problems in the supply chain arose as the global economy emerged from the recession caused by the pandemic and threatened to slow recovery. Inflation has already been boosted.

“Now, together with our partners in the private sector, we need to take action to reduce the backlog we are facing. And then we need to prevent this from happening again in the future,” Biden told world leaders at the meeting. to address supply chain bottlenecks at the edge of the G20 in Rome.

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

In addition to the United States, the meeting was attended by leaders and representatives from the European Union, Australia, Britain, Canada, the Democratic Republic of Congo, Germany, Indonesia, India, Italy, Japan, Mexico, the Netherlands, the Republic of Korea, Singapore and Spain. meeting.

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

“Openness and communication can foster a rapid response to supply chain disruptions – such as those currently facing the world – and allow other actors in the supply chain to take mitigation measures,” the White House summary said.

“We need to avoid unnecessary trade restrictions and maintain the free movement of goods and services,” they wrote.

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

(Reported by Jeff Mason; edited by Barbara Lewis)

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