Latvia has joined the Joint Statement on Cooperation on Global Supply Chains initiated by the United States (US), which outlines the political commitment of the US, allies, and partners to cooperate to prevent disruptions in supply chains.
The Joint Statement emphasizes cooperation among nations and focuses on supply chain security issues, highlighting the principles of transparency, diversification, security, and sustainability in this collaboration. The statement also emphasizes the need to collaborate in crisis situations to address transportation and logistics problems, including engagement with the public and businesses.
Joining the Joint Statement does not imply financial, legal, or any other type of obligations. It can be seen as a political commitment and intention to cooperate on supply chain matters.
Latvia's accession to the Joint Statement can facilitate the resolution of various supply chain diversification challenges. Additionally, it may benefit Latvia by becoming a preferred supplier for certain essential goods and raw materials.
The situation in the global raw materials market has intensified due to the Covid-19 crisis and the Russian military invasion of Ukraine, leading to new supply chain disruptions. One way to strengthen the resilience of European Union countries is to cooperate with strategic partners on supply chain issues, including within the framework of such a Joint Statement.
The Joint Statement was adopted during the Supply Chain Ministers' meeting in July 2022, with the US and its allies and partners committing to cooperate to prevent supply chain disruptions. Initially, 19 partners joined the statement, including the US, Canada, Australia, the UK, the EU, and five EU member states (France, Germany, Italy, the Netherlands, Spain). By September 2023, 9 more countries have joined, including the Czech Republic, Estonia, Israel, Switzerland, and Norway. In total, 29 partners have joined the Joint Statement.
Ministry of Economics
Public Relations Department
Email: prese@em.gov.lv
The information was translated using the ChatGPT service.