In a blog published on the SIA website, two senior members of the union, Jennifer Meng and Jimmy Goodrich, write that the semiconductor industry is one of the most integrated industries in the world, spanning dozens of countries and including thousands of suppliers. As a result, semiconductors are the fourth largest commodity with nearly $1.5 trillion in annual trade flows. While the United States is rightly focused on supply chain resilience and rebuilding our industrial base with the passage and enactment of the Chip Act
Leaders from semiconductor industry associations around the world recently met virtually to discuss the importance of cooperation and collaboration in the global semiconductor sector. The meeting, organized by the Semiconductor Industry Association (SIA), brought together representatives from organizations in Europe, Asia and America.
In a blog published on the SIA website, two senior members of the union, Jennifer Meng and Jimmy Goodrich, write that the semiconductor industry is one of the most integrated industries in the world, spanning dozens of countries and including thousands of suppliers. As a result, semiconductors are the fourth largest commodity with nearly $1.5 trillion in annual trade flows. While the United States is rightly focused on supply chain resilience and rebuilding our industrial base with the passage and enactment of the Chip Act
“As US Commerce Secretary Gina Raimondo recently said, the US can never be completely independent. This means that access to global markets and supply chains is integral to the future success of the US semiconductor industry. In fact, more than 80% of all US semiconductors are sold overseas, meaning the new pubs and jobs created with the support of the US Chip Act will need greater access to global markets to be financially viable and globally competitive.
“The group discussed a variety of issues affecting the semiconductor industry, including the ongoing global shortage of semiconductors and the need for increased investment in research and development. The participants also discussed the importance of cooperation in dealing with common challenges and promoting innovation.”
“The meeting highlighted the central role played by the semiconductor industry in the global economy, with semiconductors powering a wide range of critical technologies and applications. The group emphasized the need for policy makers to recognize the importance of the semiconductor industry and support policies that promote innovation and growth.”
The discussion also touched on the importance of dealing with supply chain challenges and ensuring that the semiconductor industry can meet the growing demand for its products. The participants emphasized the need for a coordinated approach to these issues, with cooperation between industry, government and other stakeholders.
In addition to discussing common challenges, the meeting also provided an opportunity for participants to share best practices and learn from each other. The group discusses a variety of topics, including workforce development, environmental sustainability and industry standards.
Overall, the meeting emphasized the importance of global cooperation and collaboration in the semiconductor industry. When the industry faces a variety of challenges and opportunities, it is clear that cooperation will be the key to ensuring continued growth and innovation in the industry. The semiconductor industry is critical to the global economy and plays a vital role in enabling a wide range of technologies and applications. By working together, industry leaders can address common challenges and drive innovation, driving continued growth and success in the semiconductor sector.
SIA” and its members are committed both to rebuilding American supply chains while promoting greater access to global markets and to facilitating increased global trade through deeper international cooperation with all key partners and countries.” Summarize the senior officials of the SIA