Joint Statement on the Supply Chain Resilience Initiative by Australian, Indian and Japanese Trade Ministers
- Mr. Dan Tehan, Australia’s Minister for Trade, Tourism and Investment, Mr. Piyush Goyal, India’s Minister for Commerce and Industry, and Mr. Hagiuda Koichi, Japan’s Minister for Economy, Trade and Industry held a Ministerial videoconference on 15 March 2022.
- The Ministers noted the importance of cooperation between Australia, India and Japan to address supply chain disruptions in the Indo-Pacific region. To this end, the Ministers reaffirmed their commitment to further develop the Supply Chain Resilience Initiative, to promote strong, sustainable, balanced and inclusive growth in the region.
- The Ministers welcomed the completion of the projects outlined in their Joint Statement of 27 April 2021: (i) sharing of best practices on supply chain resilience; and (ii) holding an investment promotion/buyer-seller matching event.
- The Ministers affirmed their desire to strengthen supply chain resilience among the three countries by promoting measures such as trade and investment diversification and supporting the enhanced utilization of digital technology. The Ministers directed their officials to identify key sectors, particularly in manufacturing and services, where the trilateral cooperation could enhance the resilience of supply chain in the sectors, and encouraged further collaboration between Austrade, Invest India and JETRO to promote investment and business in these sectors. The Ministers also affirmed the importance of cooperation with business and academia to promote best practice and to facilitate joint projects for supply chain resilience. Further, the Ministers decided to formulate and promote supply chain principles in the region.
- The Ministers decided to hold the trilateral Trade Ministers’ Meeting once a year. The Ministers also decided that each country will in principle take over the role of the Initiative secretariat as the chair country in rotation in the order of Japan, Australia and India at the end of the trilateral Trade Ministers’ Meeting.