U.S. Department of Commerce Readout of the Indo-Pacific Economic Framework Special Negotiating Round

U.S. Department of Commerce Readout of the Indo-Pacific Economic Framework Special Negotiating Round
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Sun, 02/12/2023 – 08:32

Export and investment promotion

FOR IMMEDIATE RELEASE

Saturday, February 11, 2023

Office of Public Affairs

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The U.S. Department of Commerce (Commerce) joined the special negotiating round for the Indo-Pacific Economic Framework for Prosperity (IPEF) in New Delhi, India, from February 8-11, 2023.  The round was hosted by India’s Ministry of Commerce and Industry and covered IPEF Pillars II (Supply Chains), III (Clean Economy), and IV (Fair Economy).

The U.S. delegation was led by Sharon H. Yuan, Department of Commerce Counselor and Chief Negotiator for IPEF, and included representatives from the Departments of Agriculture, Commerce, Energy, Homeland Security, Labor, State, Transportation, and Treasury; the Office of the United States Trade Representative; and the National Security Council.

Approximately 300 officials from the United States, Australia, Brunei, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam were in attendance.

Building on the discussions that took place during the previous round in Brisbane, Australia, in December 2022, the U.S. delegation successfully led in-depth text-based discussions of the three pillars in New Delhi. The IPEF Partners engaged in a productive exchange of ideas and feedback and agreed to continue working intensively in the period ahead in order to make further progress in each of the three pillars. The IPEF Partners reaffirmed their commitments to continuing collaboration to expeditiously conclude agreements that include high-standard outcomes and deliver concrete benefits to enhance a shared vision for economic competitiveness and prosperity in their respective economies.

As part of its engagement and transparency efforts, the United States hosted a virtual stakeholder listening session with approximately 90 participants from across U.S. civil society, labor, and business, as well as engaged professional staff from relevant Congressional committees, in advance of the special negotiating round. Additionally, on the margins of the negotiating round, the U.S. delegation engaged a wide variety of stakeholders including with staff from the Senate Finance Committee and House Ways and Means Committee in attendance.  The U.S. delegation also participated in an in-person stakeholder listening session with Indian and U.S. stakeholders co-hosted by Commerce and India’s Ministry of Commerce and Industry. Commerce is committed to transparency during the development and implementation of the Biden-Harris Administration’s economic agenda and will continue to provide regular updates and briefings to stakeholders and Congress as negotiations progress.

Following the September convening of the IPEF Ministerial meeting in Los Angeles, Commerce and USTR released ministerial statements for Pillars I, II, III, and IV.  The IPEF is comprised of four pillars that collectively comprise a framework that represents a shared vision for an open, connected, prosperous, and resilient Indo-Pacific region.

IPEF Partner engagement will continue and details on the next in-person negotiating round are forthcoming.

For more information on IPEF, please visit here.

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Indo-Pacific Economic Framework

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