India hosts the special negotiation round for Pillars II-IV of Indo-Pacific Economic Framework (IPEF)

 India hosted the special negotiating round for the Indo-Pacific Economic Framework for Prosperity (IPEF) in New Delhi, India, from February 8-11, 2023.  The round covered IPEF Pillars II (Supply Chains), III (Clean Economy), and IV (Fair Economy). 

About Indo-Pacific Economic Framework (IPEF):

In May 2022, the United States launched the Indo-Pacific Economic Framework for Prosperity (IPEF) with Australia, Brunei Darussalam, Fiji India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam.

This framework will advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness for our economies. Through this initiative, the IPEF partners aim to contribute to cooperation, stability, prosperity, development, and peace within the region.  This framework will 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 launch began discussions of future negotiations on the following pillars: (1) Trade; (2) Supply Chains; (3) Clean Energy, Decarbonization, and Infrastructure; and (4) Tax and Anti-Corruption.  The IPEF is designed to be flexible, meaning that IPEF partners are not required to join all four pillars.

PIB

The Office of the United States Trade Representative (USTR)

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