12 April 12 The Business Times by malminderjit singh
[SINGAPORE] Singapore and Washington have reaffirmed their partnership in securing the global supply chain through a statement that outlines their commitment to key principles.
Deputy Prime Minister Teo Chee Hean and US Secretary of Homeland Security Janet Napolitano signed a Joint Statement on Supply Chain Security yesterday as part of Mr Teo's visit to the US.
The statement reaffirms the commitment of both countries to continue working closely to address the security of the global supply chain, while facilitating and sustaining trade growth.
It also sets out key principles that both Singapore and the US agree should form the basis of these efforts.
These principles include adopting a risk-based and multi-layered approach to supply chain security; the importance of international cooperation, including harmonisation of international standards and practices, through international organisations such as the World Customs Organization, International Civil Aviation Organization, and International Maritime Organization; mutual recognition of national programmes and measures; and the need for ongoing dialogue with industry.
The statement builds on existing cooperation between the countries in the area of supply chain security, for instance under the Apec Trade Recovery Programme (TRP), and Singapore's participation in US supply chain security initiatives such as the Container Security Initiative (CSI) and Radiation Detection (Megaports) Initiative.
Its signing paves the way for enhanced cooperation between the two countries.
Mr Teo is on his first official visit to the US as Coordinating Minister for National Security and Minister for Home Affairs.