economic leadership in the Indo-Pacific through vehicles like IPEF is good for America - American workers and businesses as well as for the people in the region. IPEF is a 21st century economic arrangement designed to tackle 21st century economic challenges, ranging from setting the rules of the road for the digital economy, to ensuring secure and resilient supply chains, to helping make the kinds of major investments necessary in clean energy infrastructure and the clean energy transition, to raising standards for transparency, fair taxation, and anti-corruption. And we are proud that seven ASEAN countries have joined with many of our other close partners in the region as part of IPEF. It was at that summit that he had the opportunity to really share his vision for this framework with key leaders in ASEAN. One more thing, just to say on the membership: We believe that we’re heading into this launch with a really significant amount of momentum, really, especially coming out of the U.S.-ASEAN Summit that the President hosted just a few days ago. You’ve got major economies, emerging economies, economies with which we have free trade agreements, and others for which this will be the United States’ first economic negotiation.Īnd that diversity of members is consistent with both the vision of IPEF and consonant with the fact that the four-pillar structure that we’ve built has flexibility and creativity designed into it so that we can, in fact, accommodate this diverse range of countries. And the fact that we have such a range and a significant number of partner countries in on the ground floor for the launch reflects the far-reaching ambition of the framework and also indicates that there’s deep interest across the region in it. Together, this very diverse set of economies represent around 40 percent of global GDP. So there are other countries that could conceivably join us as we move forward. Alongside the United States, that’s 13 countries launching this - a baker’s dozen.īut, of course, as we’ve also indicated from the start, this is an open platform. They are as follows: Australia, Brunei, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. And joining him for that launch will be the initial IPEF partner countries. The President will launch IPEF in Tokyo, Japan, on Monday. The Indo-Pacific Economic Framework, or IPEF, is part of President Biden’s commitment to putting American families and workers at the center of our economic and foreign policy, while strengthening our ties with allies and partners for the purpose of increasing shared prosperity and for the purpose of defining the coming decades for technological innovation in the global economy - especially in the most vital region for the coming decades, the Indo-Pacific. I wanted to just start with some broad comments about the thrust and purpose of IPEF, and then – and then turn it over to the Secretary and the Ambassador to dive into some more detail on the key substantive elements of the framework. And thanks to my colleagues and partners, Secretary Raimondo and Ambassador Tai. And thanks, everybody, for joining this evening. We, of course, will have some time for questions at the end, but I will turn it over to Jake to kick us off. Joining us for this briefing, we have National Security Advisor Jake Sullivan, Secretary of Commerce Gina Raimondo, and U.S. This call will be on the record and embargoed until 4:15 Japan Standard Time tomorrow, May 23rd. Get Involved Show submenu for “Get Involved””.The White House Show submenu for “The White House””.Office of the United States Trade Representative.Office of Science and Technology Policy.Executive Offices Show submenu for “Executive Offices””.Administration Show submenu for “Administration””.
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