[CTC] United States and Indo-Pacific Economic Framework Partners Announce Negotiation Objectives

Fri Sep 9 09:43:26 PDT 2022

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From: USTR Press Office <ustrpressoffice at ustr.eop.gov>
Date: Fri, Sep 9, 2022 at 12:14 PM
Subject: United States and Indo-Pacific Economic Framework Partners
Announce Negotiation Objectives
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*FOR IMMEDIATE RELEASE*
September 9, 2022

*CONTACT*: media at ustr.eop.gov

*UNITED STATES AND INDO-PACIFIC ECONOMIC FRAMEWORK PARTNERS ANNOUNCE
NEGOTIATION OBJECTIVES*

*LOS ANGELES *– United States Trade Representative Katherine Tai and
Secretary of Commerce Gina M. Raimondo hosted counterparts from the 13
Indo-Pacific Economic Framework for Prosperity (IPEF) partner countries –
representing over 40% of the global economy – at the first official
in-person Ministerial meeting. The ministers had positive and constructive
discussions, and announced a substantial milestone in their pursuit of a
high-standard and inclusive economic framework.

“This meeting was a chance to deepen our partnerships and fill in the
details about how we will work collectively to address the challenges and
opportunities that will define the 21st century,” said Ambassador Katherine
Tai. “After several days of intensive discussions, we have made real
progress toward that goal and I am excited to continue developing this
Framework, which will unlock enormous economic value for our region and
serve as a model for the rest of the world to follow.”

"Our first in-person meeting has been an undeniable success,” said
Secretary Raimondo. “This week, 14 countries came together to chart a path
forward that will create economic opportunity, improve labor conditions,
and promote sustainability for all of our economies. Just as importantly,
this ministerial gave us an opportunity to show that we can deliver
concrete and tangible economic benefits for partner countries while
pursuing an inclusive and high standard framework at the same time. I am
proud of the progress we’ve made and I’m excited to continue building
momentum in this effort.”

Since its launch in May launch, IPEF countries have engaged in intensive
discussions to scope out each pillar of the Framework. At the conclusion of
the Senior Officials and Ministerial meetings, the partners reached
consensus on ministerial statements for each of the four IPEF pillars:
Trade; Supply Chain; Clean Economy; and Fair Economy.

The Framework will advance resilience, sustainability, inclusiveness,
economic growth, fairness, and competitiveness for our economies. Through
IPEF, the partners aim to contribute to cooperation, stability, prosperity,
development, and peace within the region. The Framework will also offer
tangible benefits that fuel economic activity and investment, promote
sustainable and inclusive economic growth, and benefit workers and
consumers across the region. The 14 IPEF partners represent 40 percent of
global GDP and 28 percent of global goods and services trade.

The IPEF ministerial statements are available via the links provided below:

   - Pillar I (Trade
   <https://ustr.us7.list-manage.com/track/click?u=b58f12c4da47019d98a1e84ef&id=149fe27b7a&e=ce4a1cee7f>
   )

In the Trade Pillar, the IPEF partners will seek high-standard provisions
in areas that are foundational to resilient, sustainable, and inclusive
economic growth, including labor, environment, digital economy,
agriculture, transparency and good regulatory practices, competition,
inclusivity, trade facilitation, and technical assistance and economic
development. The United States and the IPEF partners will seek
high-standard provisions that benefit workers and ensure free and fair
trade that contributes to promoting sustainable and inclusive economic
growth and that meaningfully contribute to environmental protection. We
intend to advance inclusive digital trade by building an environment of
trust and confidence in the digital economy, by addressing discriminatory
practices, and by promoting trusted and secure cross-border data flows. We
will seek to advance food security and sustainable agricultural practices
and the benefits of good regulatory practices in supporting good governance
and will work towards harnessing best practices with respect to
facilitating trade.

   - Pillar II (Supply Chain
   <https://ustr.us7.list-manage.com/track/click?u=b58f12c4da47019d98a1e84ef&id=ec135f17d1&e=ce4a1cee7f>
   )

In the Supply Chain Pillar, the countries will seek to coordinate actions
to mitigate and prevent future supply chain disruptions and secure critical
sectors and key products for our manufacturers. The United States will work
with IPEF partners to identify sectors and products critical to our
national security, economic resilience, and the health and safety of our
citizens – and then act collectively to increase the resilience of these
sectors, creating jobs and economic opportunities in key industries of the
future. Partners will identify sole sources and choke points in critical
supply chains, and work collaboratively to address them by promoting and
supporting investments in new physical and digital infrastructure. Partners
will use data to improve supply chain logistics and invest in new training
and development opportunities to upskill workers and ensure that all
citizens share in the benefits of increased supply chain resilience.
Finally, the countries will seek to ensure that the work promotes the labor
standards that underpin fair, sustainable, and resilient supply chains.

   - Pillar III (Clean Economy
   <https://ustr.us7.list-manage.com/track/click?u=b58f12c4da47019d98a1e84ef&id=c383cdd7e6&e=ce4a1cee7f>
   )

In the Clean Energy Pillar, the countries will seek to expand investment
opportunities, spur innovation, and improve the livelihoods of citizens as
the partners unlock the region’s abundant clean energy resources and
substantial carbon sequestration potential. The partners aim to advance
cooperation on clean energy and climate-friendly technologies, as well as
mobilize investment and promote usage of low- and zero-emissions good and
services. This work will be part of a future-oriented effort to enhance
energy security and reduce overall greenhouse gas emissions. The partners
seek to promote just transitions with the active participation of our
stakeholders, including the private sector, workers, and local communities.

   - Pillar IV (Fair Economy
   <https://ustr.us7.list-manage.com/track/click?u=b58f12c4da47019d98a1e84ef&id=3d511f4d98&e=ce4a1cee7f>
   )

In the Fair Economy Pillar, the countries will seek to level the playing
field for businesses and workers within partner countries by preventing and
combatting corruption, curbing tax evasion, and enhancing transparency,
recognizing the importance of fairness, inclusiveness, the rule of law,
accountability and transparency. By innovating and strengthening shared
approaches to implementing anticorruption and tax measures, the countries
will seek to improve the investment climate and boost flows of commerce,
trade, and investments among our economies while advancing a free, open,
and prosperous Indo-Pacific region.

In May 2022, Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan,
the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore,
Thailand, the United States, and Viet Nam began the process to establish
the Indo-Pacific Economic Framework for Prosperity. Ambassador Tai and
Secretary Raimondo held the first virtual Ministerial in May shortly after
the official launch. They also held a virtual Ministerial in July, which
reaffirmed their collective goal to pursue ongoing and intensified
engagements with IPEF partner countries.

The full text of the May 2022 IPEF launch statement is available here
<https://ustr.us7.list-manage.com/track/click?u=b58f12c4da47019d98a1e84ef&id=3193f69014&e=ce4a1cee7f>
.

###
U.S. Trade Representative Press Office
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