President Moon Attends Supply Chain Resilience Summit... First Speaker Following Biden's Opening Remarks

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] On the 31st (local time), President Moon Jae-in attended the 'Global Summit on Supply Chain Resilience' held in Rome, Italy, and stated that an 'open and fair trade order' must be restored to recover supply chains.

The meeting, hosted by U.S. President Biden, was held to urge international solidarity and cooperation to strengthen supply chain resilience.

In his first speech following President Biden's opening remarks, President Moon pointed out that while the global economy is recovering from COVID-19, the recovery of global supply chains is slow, and emphasized the urgent need to resolve supply chain instability issues for a full economic recovery.

He further stressed that since global supply chains are closely linked as a single chain, economic activities in all countries must return to normal trajectories to resolve supply chain instability, and that an open and fair trade order must be restored to enable companies to build more robust supply chains.

In particular, he proposed that to resolve the recent logistics crisis, countries should strive to accelerate domestic logistics flows, and that the international community and companies should jointly seek response measures such as securing alternative transportation means, adjusting transportation schedules, and sharing information.

Regarding this, President Moon explained that South Korea is also making necessary efforts such as deploying transportation means, enhancing port cargo handling capacity, and establishing joint logistics centers with other countries.

As a result document of the meeting, a chairman's statement was announced emphasizing the need to strengthen four key pillars for building resilient supply chains: ▲transparency ▲diversity, openness, and predictability ▲security ▲sustainability.

This content was produced with the assistance of AI translation services.