Injecting Stability and New Momentum into the World Economy: Xiamen Initiative on Global Supply Chain Development and Stability Released

A reporter learned from the China Federation of Logistics and Purchasing that the Xiamen Initiative on Global Supply Chain Development and Stability, jointly launched by members of the International Federation of Purchasing and Supply Management (IFPSM), was officially released today (15th). The initiative proposes to firmly uphold the multilateral trading system and jointly build an open, inclusive, resilient, and sustainable global supply chain.

The initiative calls for firmly safeguarding the multilateral trading system, deepening multilateral international cooperation, and promoting the connectivity of global supply chains. It emphasizes the establishment of a multi-stakeholder benefit-sharing mechanism, respect for developmental differences among countries, strengthening the resilience and stability management of supply chains, and creating a cross-border data flow interconnection mechanism. It also advocates for accelerating the deep integration of technologies such as artificial intelligence, big data, and the Internet of Things with the entire supply chain, thereby reshaping the new landscape of global supply chains through technological innovation. Furthermore, it promotes advancements in carbon reduction, emission reduction, and carbon sink technologies, facilitates international mutual recognition of green rules and standards, and implements full-chain green, low-carbon, and sustainable governance.

Chris Woods, President of the International Federation of Purchasing and Supply Management, stated that one of the core elements of the initiative is to bring certainty to the world economy. By releasing this initiative, we can guide and inspire various economies to jointly build more stable collaborative relationships in supply chains. This is also why we are here to release the Xiamen Initiative on Global Supply Chain Development and Stability, and I believe the timing is opportune.

The International Federation of Purchasing and Supply Management is an alliance composed of procurement associations from 40 countries and regions worldwide, operating as an independent and non-profit international organization. The release of this initiative reflects the international community’s shared concern for the stability and development of supply chains and will help deepen global cooperation, injecting new momentum into world economic growth.