EU, India and 16 others unveil guidelines for building long-term resilient supply chains

Eighteen economies, including India, the US and the European Union, have come up with guidelines for building long-term, resilient and collective supply chains.

Other countries that have adopted these guidelines are Italy, Australia, Brazil, Canada, Congo, France, Germany, Indonesia, Japan, Mexico, Netherlands, South Korea, Singapore, Spain and the UK.

The guidelines were formulated at a supply chain ministerial meeting hosted by US secretary of state Antony Blinken and secretary of commerce Gina Raimondo on Wednesday. After the meeting, the nations also issued a joint statement endorsing this roadmap. The virtual meeting held the other day was a continuation of the supply chain summit convened by US President Joe Biden last October.

The roadmap for building resilient supply chains is based on the global principles of transparency, diversification, security and sustainability. These guidelines also aim to combat the risks of dependency in the supply sector.

“Building collective, long-term resilient supply chains based on international partnerships is critical to the success of this effort,” the statement said.

The partners will work together to address mutual vulnerabilities and work to “eliminate corruption in support of supply chain security”. This collaboration includes partnerships with industry, labor, civil society and other relevant manage security risks to supply chains.