Building Resilient Supply Chains in APEC and Facilitating GVCs
Today, more than two-thirds of world trade occurs through global value chains (GVCs). With the world economy facing multiple disruptions, including slow economic growth, natural disasters, and more recently the COVID-19 pandemic, GVCs, and supply chains more broadly, are transforming rapidly, even more now than at the beginning of 2020. While past decades fostered an expansion and enlargement of GVCs, more recently some have also shortened and become more localised, a trend which is likely to increase in the coming years as large and small businesses reconfigure their operations due to the pandemic and the eager adoption of digital technologies.
As part of the launch on the 25th of July 2020 of the APEC Global Supply Chains Resiliency Survey sponsored by APEC, supported by the Australian Government and implemented by GTPA hosted a global workshop to explore disruptions in global supply chains and rapid transformation of GVCs in the APEC region.
Issues like the law of comparative advantage, transparency and digitization will be examined, as well as ideas on how to support businesses, maintain healthy supply chains, and build resilient teams for trade. Examples of agility in global supply chains during the COVID-19 pandemic will be also discussed.
Key note address from: John Denton AO, Secretary General, International Chamber of Commerce
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