US, Korea sign pact on supply chains
Nighttime view of a terraced residential district on a bank of the Pothong River in Pyongyang, North Korea, in this undated photo released by North Korea's Korean Central News Agency (KCNA) April 14, 2022. KCNA via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. REUTERS IS UNABLE TO INDEPENDENTLY VERIFY THIS IMAGE. NO THIRD PARTY SALES. SOUTH KOREA OUT. NO COMMERCIAL OR EDITORIAL SALES IN SOUTH KOREA.
The United States and South Korea have agreed to work more closely on crucial trade and supply-chain issues, the US Commerce Department announced on Saturday. Establishing a US-Korea Supply Chain and Commercial Dialogue, the statement said, would “foster increased collaboration and strengthen the international competitiveness of US and Korean industry.” The announcement, which offered little detail about the scope or workings of the new group, followed a roundtable meeting including prominent executives from both countries and led by US Commerce Secretary Gina Raimondo and her Korean counterpart Lee Chang-Yang. The US delegation is accompanying President Joe Biden on a five-day trip to Korea and Japan meant to reconfirm a US-Asian economic partnership that was strained under former president Donald Trump. The US statement said the two countries recognised that closer cooperation on “semiconductors, electric vehicles and batteries for electric vehicles, fuel cell and solar technology, and the digital economy will continue to transform our societies and drive our shared economic prosperity.”
Published in The Express Tribune, May 22nd, 2022.
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