A Supply Chain Resilience Initiative (SCRI) has been formally launched by the trade ministers of India, Japan and Australia in a trilateral ministerial meeting held virtually.
Japan, Australia and India launch network to strengthen supply chains Sorry, but your browser needs Javascript to use this site. If you re not sure how to activate it, please refer to this site: https://www.enable-javascript.com/
Economy, Trade and Industry Minister Hiroshi Kajiyama Tuesday speaks during a videoconference with his counterparts from Australia and India. | KYODO
Kyodo Apr 28, 2021
Japan, Australia and India on Tuesday launched a new framework to mutually strengthen their supply chains of cars, medical equipment and other products amid the coronavirus pandemic, in a veiled attempt at relying less on key regional trade partner China.
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.
India, Japan And Australia Formally Launch Supply Chain Resilience Initiative
by Swarajya Staff - Apr 28, 2021 03:55 AM
India, Japan And Australia s flags
The trade ministers of India, Japan and Australia formally launched the Supply Chain Resilience Initiative (SCRI) in a Trilateral Ministerial Meeting held virtually on Tuesday (27 April), an official release said.
SCRI was proposed by India, Japan and Australia last year as a trilateral push with the intent of reducing the dependence on China and developing supply chains in the Indo-Pacific region. SCRI is aimed at the creation of a free and transparent trade and investment environment.
Union Minister of Commerce and Industry Piyush Goyal, Australia s Trade Minister Dan Tehan and Japan s Trade and Industry Minister Kajiyama Hiroshi jointly announced the launch of the SCRI in a virtual ministerial conference.
US President Joe Biden, Yoshihide Suga, Scott Morrison and Narendra Modi, on a monitor during the virtual Quadrilateral Security Dialogue (Quad) meeting at Suga s official residence in Tokyo, Japan, in this file pictures from March 12, 2021. - Bloomberg
TOKYO (Bloomberg): Japan, India and Australia’s trade ministers have met to officially launch the Supply Chain Resilience Initiative, following reports that the three nations are working together to counter China’s dominance on trade in the Indo-Pacific.
Japan’s Hiroshi Kajiyama, India’s Piyush Goyal and Australia’s Dan Tehan agreed in a video conference Tuesday (April 27) to instruct their officials to share best practices on supply chain resilience, Australia’s Department of Foreign Affairs and Trade said in a statement. They also committed to holding investment promotion events to explore the possibility of diversification of their supply chains.
EconoTimes is a fast growing non-partisan source of news and intelligence on global economy and financial markets, providing timely, relevant, and critical insights for market professionals and those who want to make informed investment decisions.