Scott Price in APEC CEO Summit 2012

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INDIACSR News Network

Vladivostok, Russia : Speaking at an APEC CEO Summit 2012 panel discussion entitled ‘Supply Chains: Ever More Efficient, Ever More Vulnerable?’, Mr. Scott Price, President and CEO, Walmart Asia noted that shoring up supply chains not only makes business sense, but can help economies face and respond better to natural disasters. “Walmart was one of the few companies to be able to deliver supplies quickly to hard hit areas such as Japan after the tsunami and New Orleans in the aftermath of Katrina,” noted Mr. Price. “We were able to do this based on our network and collaboration with multiple stakeholders – as well as our drive to be a responsible member of the communities we serve.”

Urging APEC economies to continue making progress on important free trade agreements such as TPP (Trans-Pacific Partnership), Mr. Price also added, “Efficient ports, customs clearance, and multi-modal transportation all matter just as much as they did in the past. But now we also have to think about new challenges such as data transfers, access to the internet, modes of electronic payments and data privacy, to name a few. Trade negotiators should take a systems approach to tackling barriers in the supply chain. We have to think in a more holistic way about existing barriers and the ways in which we can tackle these going forward.”

Mr. Price’s panel concluded at 16:15 VLAT on 7 September.

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