Minister for Trade and Industry Gan Kim Yong said Singapore the agreement would enhance efforts to strengthen the resilience and connectivity of regional supply chains. Read more at straitstimes.com.
talks “substantially completed” a deal to make supply chains more resilient and secure, the Commerce Department said on Saturday, marking the first tangible results of the year-long negotiations.
Ms Raimondo cited shortages of semiconductors during the COVID-19 pandemic that shut down American auto production, idling thousands of workers. Commerce led the supply chains negotiations, one of four “pillars” in the IPEF talks, which represents the Biden administration’s main economic initiative in Asia, aimed in part at providing countries in the region with an alternative to closer ties with China.
Minister for Trade and Industry Gan Kim Yong said Singapore welcomed the agreement and said it “will enhance our individual and collective efforts to strengthen the resilience and connectivity of our supply chains”. To support these efforts, Mr Gan announced that Singapore will offer capacity-building programmes organised by various Singapore government agencies, in topics relevant to each of the four IPEF pillars, such as trade and business development, supply chain management, clean energy and emission reduction, and anti-corruption.
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