The central goal of the summit is to “promote greater international cooperation on short-term supply chain challenges” that hamper the global economy as it recovers from the coronavirus pandemic.
Also, “consider the strengthening and diversification of this ecosystem in the long term, from raw materials to finished products, through logistics and distribution,” said the US government.
Flanked by other world leaders attending the G20, including Indian Prime Minister Narendra Modi; South Korean President Moon Jae-in and Australian Prime Minister Scott Morrison Biden said that good supply conditions are paramount for “the majority of citizens.”
The US government is facing global supply difficulties that, since the restart, have caused prices to rise and fears of deeper inflation than expected.
During the summit, Biden announced additional funds for technical assistance to Mexico and Central American partners to resolve logistics bottlenecks.
A decree will also be signed to shorten the delivery chain of military equipment and “respond more quickly to shortages,” said Biden and anticipated that next year he will hold an international summit with private companies, trade union organizations and institutions to advance in the restoration of Supply Chain.
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