Japan, Australia and India form supply chain initiative to counter China

US President Joe Biden, Yoshihide Suga, Scott Morrison and Narendra Modi, on a monitor during the virtual Quadrilateral Security Dialogue (Quad) meeting at Suga's official residence in Tokyo, Japan, in this file pictures from March 12, 2021. - Bloomberg

TOKYO (Bloomberg): Japan, India and Australia’s trade ministers have met to officially launch the Supply Chain Resilience Initiative, following reports that the three nations are working together to counter China’s dominance on trade in the Indo-Pacific.

Japan’s Hiroshi Kajiyama, India’s Piyush Goyal and Australia’s Dan Tehan agreed in a video conference Tuesday (April 27) to instruct their officials to share best practices on supply chain resilience, Australia’s Department of Foreign Affairs and Trade said in a statement. They also committed to holding investment promotion events to explore the possibility of diversification of their supply chains.