A year ago, US President Joseph Biden initiated the creation of the Indo-Pacific Welfare Economic Framework, a framework agreement between the governments of 14 countries that will, among other goals, promote the formation of reliable supply chains for semiconductor components on a global scale. level. This week, the participants of the initiative announced their first success in the negotiation process.

Representatives of 14 countries predominantly belonging to the Indo-Pacific region met in Detroit this week to discuss current issues in the field of foreign trade, and relevant ministers were sent to this meeting. The head of the US Department of Commerce Gina Raimondo (Gina Raimondo), to the right of the stewardess, expressed her satisfaction with the initial results of negotiations on the creation of a system for early warning of interruptions in the supply of semiconductors, as noted by Reuters. components.

According to the terms of the agreement, the member countries of the infrastructure to combat crisis phenomena in the sector receive information exchange channels that will allow to accelerate the resolution of problems in conditions of crisis similar to the one that arose in the background of the pandemic. . “I would like such a system to work during the pandemic period. COVID would allow us to save American jobs and keep our supply chains up and running. said Gina Raimondo. As you know, the epidemic has paralyzed the businesses of many companies in the semiconductor industry and logistics, which has negatively affected the activities of most American automakers. For a long time they had to stop conveyors and lay off workers.

It is noteworthy that the initiative to create an early warning system for crisis events in the semiconductor industry also ensures the creation of representative bodies that monitor the observance of workers’ rights and the improvement of working conditions. The Indo-Pacific framework also includes cooperation between participating countries in the areas of trade, climate change and working conditions, but negotiations on these issues will not bear fruit until late autumn this year.