Across The RegionDepartmentsIntegrated DeterrencePartnerships

Indo-Pacific Countries Launch Major Trade Talks

Economic ministers from more than a dozen Indo-Pacific countries launched negotiations in September 2022 on the United States’ first major regional trade engagement effort in nearly a decade.

U.S. Trade Representative Katherine Tai said the Indo-Pacific Economic Framework talks in Los Angeles, California, were aimed at addressing future challenges and achieving “sustainable and equitable growth” in the region.

U.S. President Joe Biden launched the initiative during a May 2022 trip to Tokyo.

Tai, who led the talks with U.S. Commerce Secretary Gina Raimondo, said the ambitious initiative was progressing. The talks include ministers from Australia, Brunei, Fiji, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand and Vietnam. Together with the U.S., the participants represent about 40% of global gross domestic product.

“This framework will be a durable model for the rest of the world to follow,” Tai said, adding it would bring economic value for small businesses. She said the initiative would target issues such as the digital economy, labor, environment, agriculture and trade. (Pictured: U.S. Trade Representative Katherine Tai, left, and U.S. Commerce Secretary Gina Raimondo attend the Indo-Pacific Economic Ministerial in Los Angeles, California, in September 2022.)

Citing “extraordinary progress in recent months,” Raimondo said the initiative could lead to more stable and resilient supply chains, while accelerating work on clean energy technologies and anti-corruption commitments.  Reuters

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button