International political figures and business leaders gathered on Tuesday at the opening of a supply chain expo in Beijing, calling for enhanced cooperation to better face global challenges amid rising geopolitical tension and growing trade protectionism.
"We hear terms like the end of globalization, decoupling, high fences and small gardens," but in the end the world needs a functioning and inclusive trading system for the benefits of all businesses and individuals, John Denton, the secretary-general of the International Chamber of Commerce, said in his speech.
Global businesses can play a pivotal and unifying role in defending and promoting supply chain coordination and free trade, Rio Tinto Chair Dominic Barton said when addressing the event.
"It's essential for all of our prosperity. I'm confident that we will all be able to do this," Barton added.
The second China International Supply Chain Expo, which runs through Saturday, has drawn more than 600 companies from around the globe. These exhibitors are showcasing their latest technologies and products while seeking cooperation in areas ranging from advanced manufacturing and green agriculture to clean energy.
As the first of its kind in the world to focus on fostering supply chain cooperation, the expo, emerging at a time when "decoupling and breaking chains" are on the rise, aims to build up consensus, help companies integrate into global industrial chains, and promote win-win cooperation.
The event comes at just the right time as the world is confronted with enormous challenges, said Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto. For the world's development and prosperity, "connectivity -- not the blocks -- should characterize the upcoming decades," he said.
Attendees at the expo pointed out that while improvements in global supply chains will help boost benefits for people around the world, the costs of fragmentation will be unbearable.
"We can achieve more, when we work together. The bigger the challenge, the more essential the cooperation becomes. The benefits of an interconnected supply chain are clear," Barton said.
Business representatives at the expo jointly proposed the Beijing Initiative, which outlines five key actions for the future of global supply chains -- promoting open cooperation, advancing digital connectivity, supporting green and low-carbon development, enhancing supply chain services, and giving play to the unique role of business communities.
The international participation at this year's expo highlights the widespread desire for cooperation. Nearly one-third of the exhibitors are from overseas, up from 26 percent in the previous year.
Among the exhibitors are Apple, which is showcasing its supply chain alongside Chinese partners, as well as Rio Tinto, Bosch, Baowu Steel and XPENG, which are jointly exhibiting in the expo's smart vehicle zone.
Global supply chain connectivity is an unstoppable trend and economic globalization remains a shared goal, stated the China Council for the Promotion of International Trade (CCPIT), the organizer of the expo.
According to a report and two indices published Tuesday by the CCPIT, the global supply chain connectivity reached a historic high despite challenges such as the COVID-19 pandemic, natural disasters and geopolitical tensions, which indicates that the negative impact of decoupling and protectionist policies have been temporary and limited.
Ren Hongbin, president of the CCPIT, said the expo aims to build bridges of industrial integration, innovation and market connectivity, foster broad consensus, and achieve win-win cooperation for a brighter future.
