Note Update 1 – World Leaders Seek Ways to Strengthen Global Supply Chains

(Corrections to the spelling in the title)

Written by Jeff Mason and John Strochevsky

ROME (Reuters) – US President Joe Biden and 16 world leaders on Sunday discussed measures to make the supply chain more flexible for future health crises, climate change and planned attacks.

Distribution chain problems have arisen as the global economy emerges from the epidemic recession and threatens to slow recovery. They have already triggered inflation.

“We need to work with our private sector partners now to reduce the recession we are facing. We need to prevent this from happening again in the future,” Biden told world leaders at a meeting to resolve supply chain barriers on the sidelines of the G20 summit in Rome.

“We are now seeing how vulnerable these global trade lines are. We will not be able to return to business as usual. This epidemic will not be the last global health crisis we face. We must increase our resilience to climate change, natural disasters and even planned attacks.

In addition to the United States, leaders and delegates from the European Union, Australia, Great Britain, Canada, the Democratic Republic of the Congo, Germany, Indonesia, India, Italy, Japan, Mexico, the Netherlands, the Republic of Korea, and Singapore attended the conference. Meeting.

The summary of the White House talks states that countries are ready to work together to make the supply chain more flexible. He agreed to work on greater transparency and information sharing between countries and the need for reliable multiple suppliers of raw materials, semi-finished and finished products.

“Transparency and communication will promote a quick response to supply chain disruptions – the world is now facing – and empower other supply chain players to take mitigation measures,” the White House summary said.

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

Leaders, in particular, stressed the need for technology supply chains and security for a fair and sustainable work environment, and said they would work with the private sector to achieve these goals. (Jeff Mason Report; Barbara Lewis Editing)