IPEF ministers outline pillars for regional economic zone

LOS ANGELES — Ministers from 14 countries agreed Sept. 9 to enter into formal negotiations on the Indo-Paci c Economic Framework (IPEF), a new economic zone initiative led by the United States, following two days of talks in Los Angeles.

With China’s growing in uence in the Indo-Paci c region in mind, the IPEF member countries intend to strengthen cooperation based on four key pillars: trade, supply chains, a clean economy and a fair economy.

Ministerial meetings for the initiative were held in a face-toface format for the rst time on Sept. 8 and 9, with a ministerial statement outlining future negotiation items for the four key pillars.

India decided not to participate in the trade pillar portion of the negotiations, but the 13 other countries will participate in negotiations for all of the key pillars.

U.S. Commerce Secretary Gina Raimondo said at a press conference that a series of meetings would be held for the initiative before the end of this year, and that the next ministerial meeting would probably take place in early 2023.

e statement produced by the ministers included speci c details of what the countries should work on.

For the trade pillar, the statement said the countries will address the protection of laborers and the environment, the digitization of customs procedures and the advancement of trusted and secure cross-border data ows.

For the supply chains pillar, the statement calls for the member countries to collaborate

to create a mechanism for information sharing and crisis response in order to mitigate and prevent future supply chain disruptions for critical commodities, such as semiconductors and pharmaceuticals.

For the clean energy pillar, the member countries agreed to promote infrastructure

investment support for decarbonization and technological cooperation for developing countries. And for the fair economy pillar, they listed anti-corruption measures, such as for bribery, and curbing tax evasion.

“e IPEF embodies how we intend to move forward to bring equitable growth to our

region,” U.S. Trade Representative Katherine Tai said.

Economy, Trade and Industry Minister Yasutoshi Nishimura, who represented Japan at the meeting, stated at the press conference: “e IPEF can serve as a model for new economic partnerships. Japan will actively contribute to the IPEF.” (Sept. 11)

The Yomiuri Shimbun Economy, Trade and Industry Minister Yasutoshi Nishimura, left, joins a commemorative photo session in Los Angeles on Sept. 8.