July 21, 2022
On Wednesday, July 20, Mr. Hagiuda Koichi, Minister of Economy, Trade and Industry, attended 2022 Supply Chain Ministerial held online by the United States. In the Ministerial, the ministers discussed supply chain resilience.
1. Overview of the forum
Following opening speeches by US Secretary of State Antony Blinken and US Secretary of Commerce Gina Raimondo, Minister Hagiuda and the other participating ministers delivered remarks.
After discussing ways of addressing short-term supply chain disruptions and enhancing long-term resilience, the ministers adopted a joint statement.
2. Remarks by Minister Hagiuda (Summary)
- Japan will support the four principles of supply chain resilience, namely, transparency, diversification, security, and sustainability.
- It will also take steps toward supply chain resilience. The Task Force on Strategic Goods and Energy Supply Chains has implemented emergency measures to secure supplies that will be significantly affected by the situation in Ukraine. Measures toward supply chain resilience for strategic materials will also be promoted through steady implementation of the Economic Security Promotion Act.
- Supply chain resilience cannot be achieved by a single country alone, so it is important to cooperate with like-minded countries. Japan will actively contribute to the discussions toward expanding into the Indo-Pacific region—and globally—resilient supply chains whose reliability has been guaranteed with other like-minded countries.
3. Joint statement
The ministers confirmed their intention to promote international cooperation and build supply chains that will have long-term resilience, in accordance with the four principles of transparency, diversification, security, and sustainability.