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IPEF Advances with Key Agreements and Initiatives, Aiming for Concrete Outcomes

The Indo-Pacific Economic Framework for Prosperity marks significant progress with the entry into force of the Supply Chain Agreement and the finalization of key agreements, setting the stage for future cooperation.

Overview

  • U.S. Secretary of Commerce Gina Raimondo and IPEF partners welcome significant progress in the Indo-Pacific Economic Framework for Prosperity (IPEF), including the entry into force of the Supply Chain Agreement.
  • The IPEF partners discussed cooperative work ahead and announced new initiatives under the Clean Economy pillar, including the launch of four new Cooperative Work Programs (CWPs).
  • The proposed Clean Economy and Fair Economy Agreements, and the Agreement on IPEF, have been finalized and published, marking a step forward in international cooperation on climate action and fair trade.
  • The IPEF partners aim to deliver concrete outcomes under the Framework, with the next ministerial meeting scheduled in Singapore on June 6.
  • U.S. and Thailand discuss strengthening diplomatic and commercial ties, emphasizing the importance of collaboration in the digital economy and the role of Thailand in the IPEF.