Indo-Pacific Economic Framework – negotiations have commenced
On 9 September I joined Ministers from 13 other partners across the Indo-Pacific, in Los Angeles to launch negotiations on the Indo-Pacific Economic Framework (IPEF).
IPEF members agreed that negotiations would cover a range of new and emerging issues on trade; supply chains; clean energy, decarbonisation and infrastructure; and tax and anti-corruption.
Launching IPEF negotiations is a significant step in the future of greater economic cooperation in the Indo-Pacific region.
It was a privilege to work so closely and constructively last week with Ministers from across the region to agree IPEF’s forward-leaning and ambitious scope and objectives.
We agreed to start work immediately to develop projects that provide tangible benefits across the IPEF membership.
Together, IPEF members represent over 40 per cent of global GDP and, for Australia, eight of Australia’s top ten trading partners.
I am committed to IPEF’s success and its potential to develop new and innovative solutions to modern trade and economic challenges in areas such as supply chains, digital trade, and supporting the region’s energy transition.
Stakeholders are encouraged to have their say on the development of this modern regional framework via the DFAT website.
The joint Ministerial Statements agreed by IPEF members can be found at Indo-Pacific Economic Framework.
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