US announces key pact on supply chain resilience under Indo-Pacific

The US on Thursday announced that a key agreement on supply chain resilience under the Indo-Pacific economic framework involving 14 partner nations, including India, Japan and Australia, will come into force on February 24.

US Commerce Secretary Gina Raimondo said the pact will facilitate a collaborative approach to strengthen supply chains and prevent potential disruptions.

The US Department of Commerce said the Indo-Pacific Economic Framework for Prosperity (IPEF) agreement relating to supply chain resilience will enter into force on February 24.

''This is a critical step in bringing the landmark, first-of-its kind agreement into action and promoting coordination among the IPEF partners on building resilient, efficient, productive, sustainable, transparent, diversified, secure, fair, and inclusive supply chains,'' it said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)