Reference Update 1 – World leaders look for ways to strengthen global supply chains

(Corrections to correct a typo in the title)

Written by Jeff Mason and Jan Struchevsky

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

Supply chain problems have arisen as the global economy emerges from the recession caused by the pandemic and threatens to slow the recovery. They have already fueled inflation.

We must now act, along with our private sector partners, to reduce the backlog we face. “Then we have to prevent this from happening again in the future,” Biden told world leaders at a meeting. To address supply chain bottlenecks on the sidelines of the G20 Summit in Rome.

“Now that we have seen how vulnerable these global trade lines are, we cannot go back to business as usual. This pandemic will not be the last global health crisis we face. We also need to increase our ability to adapt to climate change, natural disasters and even planned attacks.”

In addition to the United States, leaders and representatives 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. Spain participated in the conference. Meeting.

A White House written summary of the talks says countries are ready to work together to make supply chains more resilient. It agreed to work on increasing transparency and information exchange between countries and the need for reliable multiple suppliers of raw materials, semi-finished products and finished products.

“Openness and communication can promote a rapid response to supply chain disruptions – such as those the world is facing now – and enable other players in the supply chain to take mitigating measures,” the White House summary said.

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

The leaders also stressed the need for security, especially in technology supply chains, and fair and sustainable working conditions, and said they would work with the private sector to achieve these goals. (Reporting by Jeff Mason; Editing by Barbara Lewis)