The U.S. Department of Commerce said the agreement will take effect on February 24. (Data map)

New Delhi:

The United States announced on Thursday that a key agreement on supply chain resilience under the Indo-Pacific Economic Framework involving 14 partner countries including India, Japan and Australia will take effect on February 24.

U.S. Commerce Secretary Gina Raimondo said the agreement would promote a collaborative approach to strengthening supply chains and preventing potential disruptions.

The U.S. Department of Commerce said the Indo-Pacific Economic Prosperity Framework (IPEF) agreement on supply chain resilience will take effect on February 24.

“This is a landmark and unprecedented agreement to put into action and promote coordination among IPEF partners in building supply chains that are resilient, efficient, productive, sustainable, transparent, diverse, safe, equitable and inclusive critical step,” it said.

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