SBF Strongly Supports Global Service Coalition’s Position on Supply Chain Connectivity

With COVID-19 causing unprecedented disruption to global production capacities and global supply chains, it is important for the world to work together to maintain global productions systems and trade links, ensuring supply chain connectivity to overcome the health, economic and financial challenges globally.

The Singapore Business Federation (SBF) and other members of the Global Services Coalition (GSC) call on governments to ensure resilience in the global supply of essential services that are critical enablers of trade in goods necessary to combat COVID-19, maintain the supply of food, and enhance social welfare. The GSC is a coalition of business associations that advocates the interests of the services industries in their respective countries, which include the US, UK, Canada, Japan, and Australia, on matters relating to international trade and investment.

Stressing the importance of the continuation of global supply chains in the face of a crisis, Mr Ho Meng Kit, CEO of SBF, said, “In order to support combat of the COVID-19 pandemic on the health and economic front, there is a need for cross border coordination to ensure that essential services, such as cargo flights as well as medical, financial and ICT services, continue to function in these unprecedented times.

“SBF will continue to champion keeping supply chains open, facilitating the trade of essential goods such as medical supplies and medicine, and enabling the services essential for doing so. We will work with the global business community to call on governments to commit to keeping open the supply of essential goods and services in the spirit of global collaboration that is required to combat this pandemic. The joint ministerial statement by Singapore and six other countries, Australia, Brunei, Canada, Chile, Myanmar, and New Zealand, committing to keep supply chains open amid the pandemic is something we would like to see deepened and expanded to a regional or multilateral outcome.”

SBF, as part of the APEC Business Advisory Council (ABAC), has called for APEC leadership and cooperation to combat the grave challenges to health and economies posed by the COVID-19 pandemic. SBF is also a member of the International Chamber of Commerce (ICC), and an observer member of Business Twenty (B20), both of which have also called on governments to collaborate and cooperate to effectively combat the potential human and economic toll of the COVID-19 pandemic.

Please refer to the Global Services Coalition’s statement here for more information.

Tuesday, 7 April 2020