USCIB joined Business at OECD (BIAC) for a joint meeting on October 7 with the OECD to discuss building resilience in global supply chains to ensure that trade and investment can contribute to a robust, inclusive and sustainable recovery.
BIAC raised some key messages, such as the economic fallout from COVID-19 which has highlighted the need to strengthen supply chain resilience amid significant disruptions and containment measures that were especially stark during the early phase of the pandemic. BIAC added that because OECD work has demonstrated the gains from deepening and expanding international specialization in global value chains, the Organization should provide an important evidence-base on how countries can better prepare for future crises without disrupting global value chains and imposing restrictions at a time where global trade and investment are essential elements for innovation, job creation and getting our economies back on track.
Eva Hampl, who is leading USCIB’s work on trade and investment, participated in the conversation along with several USCIB members including from Apple, DHL, JPMorgan, Walmart and Pfizer.
In her remarks, Hampl noted the critical role of government cooperation as business is working to strengthening supply chains. “Consistency and predictability is critical for business,” said Hampl. “That’s why government cooperation and engagement with business is necessary to find effective solutions. This is where the OECD can provide crucial value by facilitating the conversation between business and governments.