The Five eyes (FVEY) group is an intelligence network comprising of Canada, Australia, New Zealand, the UK, and the US.
Five Eyes Economic Pact
A multilateral agreement for cooperation in signals intelligence between Canada, Australia, New Zealand, the United Kingdom and the United States.
With an eye on China, and as part of its efforts to maintain peace and rule of law in Indo-Pacific region, a top U.S congressional committee has sought to bring three democratic countries of the region - India, Japan, and South Korea in Five Eyes for intelligence sharing.
Generally Five eyes known for intelligence alliance but it will be used to create "Trusted Supply chain," Prime minister Scott Morrison has told.
Government leaders confirmed earlier reports that the alliance, which includes the USA, Canada, the UK, New Zealand, and Australia would be used for economic purposes as well as strategic.
Supply chains means the entire process of making and selling commercial goods, including every stage from the supply of materials and the manufacture of the goods through to their distribution and sale.
Primarily the five eyes group formed to handle the global threats mainly from the Soviet union, China and several other Eastern countries of Europe.
The Five Eyes economic agreement is seen by security experts as a hardening of the alliance between Western democracies in response to China.
Five eyes countries dependent on China goods :-( data by UN comtrade database)
- Australia - 595 goods
- New Zealand - 513 goods
- United States - 414 goods
- Canada - 367 goods
- United Kingdom - 229 goods
This will take time to transfer his supply from China to India, Vietnam, and South Korea. It may be difficult for Australia because they have most dependent on China. Now this countries are looking towards self- dependent.
Stay tuned!
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