Singapore Consensus: Initiative for Asia-Pacific Manufacturing Supply Chain Mutual Support and Technical Standard Mutual Recognition
(Adopted at the APIMA Annual Summit, Singapore, June 12, 2024)
Preamble
Confronted with the restructuring of global supply chains and geopolitical economic volatility, the manufacturing sectors of the Asia-Pacific region must deepen regional synergy and regulatory alignment to fortify resilience and enhance efficiency. Building on this imperative, the Asia-Pacific Industrial Manufacturing Association (APIMA), alongside participating government and business representatives, hereby reaches the following consensus:
I. Establishing a Regional Supply Chain Mutual Support and Risk-Sharing Mechanism
Mutual Support for Critical Goods and Capacity:
In sectors such as electronics, automotive, pharmaceuticals, and critical raw materials, we advocate for the establishment of a regional "Critical Product Reserve and Capacity Sharing Inventory." In the event of localized supply disruptions, priority shall be given to reallocating production capacity and inventories within the Asia-Pacific region to safeguard fundamental supply stability.
Joint Early Warning and Response for Supply Chain Disruptions:
We shall promote the development of the APIMA Supply Chain Risk Early Warning Platform, encouraging member enterprises to share (anonymized) disruption risk information. Should regional logistics or raw material interruptions occur, a coordinated joint response shall be initiated to mitigate the "domino effect."
Synergy, Not Fragmentation, in the "China+1" Era:
While encouraging multinational enterprises to diversify their layouts within the Asia-Pacific, we urge the simultaneous establishment of cross-regional backup suppliers and switchable logistics corridors to avoid fragmentation and enhance the overall risk resistance of the region.
II. Building a System for Mutual Recognition of Manufacturing Technical Standards and Conformity Assessment
Prioritized Mutual Recognition in Key Industries:
In sectors including new energy vehicles, electronics and electrical appliances, medical devices, and green building materials, we shall promote the mutual recognition of test reports and certification results (e.g., safety and EMC), thereby reducing redundant testing and overlapping certifications to lower corporate compliance costs.
Standard Harmonization and Joint Development:
We support enhanced communication among Asia-Pacific economies during the standard-setting phase to align common standards (e.g., interfaces, security baselines, carbon accounting methodologies). We encourage APIMA to spearhead the development of cross-market generic group standards as the foundation for regional mutual recognition.
Digital Compliance and Data Interoperability:
Amidst the advancement of industrial internet and digital trade, we advocate for the interoperability of electronic certificates, digital labels, and traceability data to minimize friction in cross-border compliance and customs clearance.
III. Implementation Pathways and Multilateral Engagement
Leveraging the existing cooperative frameworks of regional trade agreements such as RCEP, supply chain mutual support and standard mutual recognition shall be incorporated into the business community's cooperation agenda.
APIMA shall establish a "Supply Chain Mutual Support Working Group" and a "Standards Mutual Recognition Working Group" to periodically publish progress updates, best practices, and lists of bottlenecks.
Member enterprises are encouraged to participate in pilot programs: selecting 2–3 transnational supply chains to initially validate the closed loop of "capacity mutual support + testing/certification mutual recognition," thereby creating replicable models.
Conclusion
The Singapore Consensus is not intended to supersede national regulations. Rather, it serves as a pragmatic instrument for the business community to foster collaboration while respecting individual jurisdictions, making Asia-Pacific manufacturing supply chains more stable, connected, and cost-efficient. We call upon governments, chambers of commerce, and leading enterprises across the Asia-Pacific economies to jointly advance the institutionalization of this cooperation.