Washington DC, 18 July 2022 (TDI): The United States (US) Secretary of State, Antony J. Blinken, and Secretary of Commerce, Gina Raimondo will co-host a Supply Chain Ministerial Forum.
The forum will commence on July 19, 2022, and end on the 20th. It is pertinent to note that the forum is a part of ongoing work with key partner states on supply chains.
Gina Raimondo shared in a tweet that the Administration has led the way in recent months and it has shaped international initiatives to strengthen the accountability and resiliency of the international supply chains.
Over the past year, this Administration has been at the forefront of shaping global efforts to improve transparency and resilience in our global supply chains. Next week, @SecBlinken and I will co-host the Supply Chain Ministerial Forum https://t.co/Cv9dGlDlVw pic.twitter.com/EAuDffQI2D
— Secretary Gina Raimondo (@SecRaimondo) July 15, 2022
Supply Chain Ministerial: An Overview
The Supply Chain Ministerial Forum was announced by the US representative in order to observe the outcomes of trade matters with full care.
Moreover, this can allow new strategies introduced for better progress. Here the matters will be analyzed along with the Supply Chain partners of other countries.
The session will be opened by the introduction that will be made by the two Under Secretaries of the State; Jose W. Fernandez, Under Secretary for Economic Growth, Energy, Environment, and Marisa Lago, Under Secretary of Commerce for International Trade.
This event will be helpful in the long run for Supply Chain managers in partner countries. Likewise, here the experts will gather to find solutions to both short-term pressures besides long-term supply-chain risks.
Furthermore, this fully interactive event will welcome the stakeholders from labor, industry, and civil society to opinionate their ideas.
Supply Chain Market of the US
The size of Supply Chain Management Services in the US market is around 10.2 billion USD. The current Supply Chain crunch in the US leaves an enormous effect on society of consumers.
The consumers include all the families across the borders. The growth is 4.4 percent annually. Subsequently, there are high prices along with increasing inflation rates to look upon in the US.
Adding to that, the goods available are in lesser amounts for which customers, unfortunately, have to wait longer.
