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Building Resilience: The Effects of Geopolitics on Global Trade and Supply Chains

SpeakerS:

Doug Evans, President & CEO, Palm Beach Chamber of Commerce
Rohitesh Dhawan, President & CEO, International Council on Mining and Metals
The Hon. María Luisa Hayem, Minister of Economy, Republic of El Salvador
The Hon. Reta Jo Lewis, President and Chair of the Board of Directors, Export-Import Bank of the United States
The Hon. Robert Silvers, Under Secretary for Policy, U.S. Department of Homeland Security

“At the Department of Homeland Security, we recognize we're in an era of supply chain disruptions, and we need to work together with industry to get ahead of these things.” The Honorable Robert Silvers
“We've signed over 20 MOUs with our allies and friends, starting with our G7 countries, to make sure that we could continue to provide the kinds of financing that the Export-Import Bank has been doing for the last 90 years.” The Honorable Reta Jo Lewis
“I don't underestimate the fact that for some people in this room, the very term 'ethical mining' might be an oxymoron because you may come to this with a view that mining is necessarily bad, and I don't blame you for feeling that way because we have been our own worst enemy as an industry.” Rohitesh Dhawan
“We all know that through the pandemic, all we heard was you couldn't get something because of supply chain, you couldn't get something because of the pandemic, things not being produced. But today it's exacerbated by global political issues, and that's what we're here to talk about today with four wonderful experts.” Doug Evans
“We do believe that we have to leverage that technology, if it's for trade facilitation, if it's for health, if it's for education. No matter what we're doing, we're looking at how we're going to make sure that we innovate and adopt the technologies that better suit El Salvador.” The Hon. María Luisa Hayem

Key takeaways:

  • Supply chain resilience is critical: The U.S. government recognizes the era of supply chain disruptions and emphasizes working with industry and a new DHS center focused on using data to predict and mitigate disruptions before they escalate, ensuring consumers and businesses receive necessary goods.
  • Tech enhances competitiveness and services: Governments have a significant responsibility to adopt technologies that provide better services to populations and companies. El Salvador, for instance, supports tech adoption in manufacturing to cut costs, reduce emissions, enhance competitiveness and foster startup innovation locally and globally. 
  • Partnerships and collaboration is essential: Collaborating with allies and the private sector is essential for global competitiveness and resilient supply chains, with a focus on supporting the rapidly growing small, women-, and minority-owned businesses that form the economy’s backbone. 
  • Local production for security and sustainability: Producing metals and minerals closer to home not only improves economic security but also often leads to better social and environmental outcomes, despite resistance to increased domestic mining or heavy industry. 

Action items:

  • Establish supply chain resilience centers: Governments should create centers that utilize data analytics and foster industry collaboration to anticipate and address potential supply chain disruptions proactively. 
  • Promote tech adoption in economic sectors: Invest in adopting advanced technologies across government services and manufacturing to improve efficiency, lower costs, produce eco-friendly products, and support startup growth through global partnerships to expand into international markets. 
  • Strengthen partnerships and support for small businesses: Enhance collaboration with international organizations, economic development agencies, and the private sector to build resilient supply chains and compete globally, providing resources for small, women-, and minority-owned businesses to compete globally. 
  • Encourage local production of essential commodities: Support local production of critical metals and minerals to boost security and sustainability, addressing public concerns by commitment to social and environmental standards. 

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