APAC countries pledge to maintain open supply lines

They will work closely to identify trade disruptions.

Australia, Brunei, Myanmar, New Zealand and Singapore have committed to to refrain from imposing export controls and tariffs and remove existing trade restrictions on essential goods amidst the pandemic, according to a joint statement with Canada and Chile.

They have pledged to work closely to identify and address trade disruptions with ramifications on the flow of necessities like medical supplies.

They will also work with "like-minded" countries to make sure that air and seaports remain open to be able to support the viability and integrity of supply chains globally.

"We recognise that it is in our mutual interest to ensure that trade lines remain open, including via air and sea freight, to facilitate the flow of goods including essential supplies," expressed the statement published by Singapore's Ministry of Trade and Industry (MTI).

According to an IGD report, freight carriers have seen a sharp drop in their capacity to deliver goods, as the pandemic prompted various countries to impose lockdowns and export curbs on goods including masks and pharmaceuticals.