India, Australia, Japan Work Together In Trade Move To Counter China India, Australia, Japan Work Together In Trade Move To Counter China Japan s Hiroshi Kajiyama, India s Piyush Goyal and Australia s Dan Tehan agreed in a video conference Tuesday to instruct their officials to share best practices on supply chain resilience.
The three nations are seeking to build stronger supply chains to counter China s dominance.
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 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
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Beijing: China on Wednesday sharply reacted to a trilateral initiative by the trade ministers of India, Japan and Australia to launch the Supply Chain Resilience Initiative (SCRI), saying shifting of industrial chains is against economic laws and disrupts global supply chains.
Australia’s Minister for Trade, Tourism and Investment Dan Tehan, India’s Commerce and Industry Minister Piyush Goyal and Japan’s Minister for Economy, Trade and Industry Kajiyama Hiroshi virtually launched the SCRI, which media reports described as an initiative to counter China’s dominance on international trade.
The SCRI seeks to enhance the resilience of supply chains in the Indo-Pacific region and develop dependable sources of supply and attract investment.
The Straits Times
Australia, Japan and India form supply chain initiative to counter China
The trade ministers of the three countries agreed to convene once a year to progress the initiative.PHOTO: REUTERS
Published9 hours ago
https://str.sg/JFL6
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China wary as India, Australia, Japan push supply chain resilience
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Joint measures they are considering are seen aimed at reducing their reliance on China
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Joint measures they are considering are seen aimed at reducing their reliance on China
The Supply Chain Resilience Initiative (SCRI) formally launched on Tuesday by the Trade Ministers of India, Japan and Australia brought a wary response from China, which has described the effort as ‘unrealistic’.
Piyush Goyal, Minister for Commerce and Industry, launched the SCRI along with Dan Tehan, Australia’s Minister for Trade, Tourism and Investment, and Hiroshi Kajiyama, Japan’s Minister for Economy, Trade and Industry. The three sides agreed the pandemic “revealed supply chain vulnerabilities globally and in the region” and “noted the importance of risk management and continuity plans in order to avoid supply chain disruptions”.