G20 calls for international cooperation to fix supply chain vulnerabilities

WASHINGTON, September 3. /TASS/. Members of the Group of Twenty (G20) have called for international cooperation in order to fix systemic vulnerabilities in global supply chains, according to a consensus statement adopted in the wake of the G20 Innovation Ministerial in Chapel Hill, North Carolina.

We recognize that industrial supply chains are increasingly complex and interconnected, and that resilient, diversified supply chains support global productivity and are a cornerstone of long-term economic growth and stability, job creation, and security. Systemic vulnerabilities in these supply chains should be addressed through international collaboration, the document says.

The delegates noted the need to increase transparency of supply chains and called for "enhanced access to relevant non-sensitive data on global production capacity to enable accurate risk assessments and real-time disruption monitoring."

They have also expressed their support to efforts "to strengthen and diversify supply chains in sectors of strategic importance by expanding manufacturing capacity and incentivizing supply chain innovation."

Russian Foreign Ministry Ambassador-at-Large Marat Berdyev earlier said that Russia is taking part in the G20 Innovations Ministerial in North Carolina, US, on September 1-2.