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Some Asia Nations, Canada, Chile Pledge to Protect Supply Chains

Some Asia Nations, Canada, Chile Pledge to Protect Supply Chains

(Bloomberg) -- A group of Asia-Pacific countries, Canada and Chile pledged Wednesday to do what they can to uphold open and connected supply chains as the coronavirus pandemic threatens to tip the global economy into recession.

The governments said they “are committed to maintaining open and connected supply chains” as part of a collective effort to battle the virus, according to a joint statement of officials from Australia, Brunei, Canada, Chile, Myanmar, New Zealand, and Singapore.

The group agreed not to impose export controls or tariffs and non-tariff barriers on goods. It also affirmed the importance of removing any existing trade restrictive measures on essential products, such as medical supplies.

“We will also work closely to identify and address trade disruptions with ramifications on the flow of necessities,” the officials, from trade and other ministries in their home countries, said in the statement.

Singapore had earlier initiated a joint ministerial statement with New Zealand, and has since worked with other like-minded countries to facilitate free trade.

©2020 Bloomberg L.P.