On Tuesday, the United Kingdom will establish a ‘Critical Imports and Supply Chains Strategy’ to strengthen the security of supply chains for essential items like medicines and minerals.
Amidst the ongoing hindrance in the logistic supply by Houthi on ships in the Red Sea, the British government will establish a group to assess risks on critical imports. The Houthi organisation in Yemen is backed by Iran and has been targeting international maritime channels for a while. Furthermore, the ongoing tensions in the Middle East, the COVID-19 pandemic, and the Russia-Ukraine conflict have greatly affected the supply chain globally.
The Department for Business & Trade stated that the strategy has been in work for several months and will positively contribute to the development of a safer trading environment. The UK is collaborating closely with its allies, particularly the United States, to secure the supply chain. The government will be creating a portal for business owners to report supply disruptions post-haste. Additionally, it will create a Critical Imports Council for industries and the government to collaborate and reduce the risk involved.
The strategy aims to develop resilient and secure supply chains that safeguard the businesses of over 100 leading UK firms.