Japan, Australia and India launch network to strengthen supply chains
AKIPRESS.COM - Japan, Australia and India on April 27 launched a new framework to mutually strengthen their supply chains of cars, medical equipment and other products amid the coronavirus pandemic, in an attempt at relying less on key regional trade partner China, Japan Times reported.
The launch came as the three countries have been working together to address vulnerabilities in the global manufacturing system, which continues to be hit by virus-induced trade disruptions.
In a videoconference, Japan’s Economy, Trade and Industry Minister Hiroshi Kajiyama and his counterparts Dan Tehan of Australia and Piyush Goyal of India said the framework, called the Supply Chain Resilience Initiative, will eventually attain strong, sustainable, balanced and inclusive growth in the region.