US kicks off Indo-Pacific supply chain meetings

With an aim to enhance supply chain operations, fourteen member countries organize a meeting under an agreement.  

The first meeting was held this week by the Department of Commerce and its 14 partner countries to discuss the Indo-Pacific Economic Framework.

The virtual meetings proved to be an excellent move to strengthen supply chains across Pacific Ocean trade routes. The Labor Rights Advisory Board, the Crisis Response Network, and the Supply Chain Council were the highlights of the agreement to elect chairs and vice chairs.  

The prominent leaders from the 14 IPEF member countries including New Zealand, Thailand, India, Fiji, Australia, Korea, Indonesia, Vietnam, Malaysia, Brunei Darussalam, Japan, the Philippines, Singapore, and the U.S. interacted with each other in the July 30 meetings.

The prime focus was building momentum from a June meeting in Singapore where three agreements i.e. the Agreement on IPEF, Fair Economy Agreement, and the Clean Economy Agreement were signed by Commerce Secretary Gina Raimondo and other IPEF leaders.

Combating the supply chain interruptions, logistical intricacies, and implementing ideal policy practices, improving warehousing that has proximity to ports, and boosting data sharing were the paramount goals of The IPEF trade agreement that was introduced in February.

Washington, D.C. would be the venue for next month where the leaders will meet for the first time.