COORDINATING MINISTER FOR ECONOMIC AFFAIRS EMPHASISES INCLUSIVITY AND COOPERATION IN IMPLEMENTING THE INDO-PACIFIC ECONOMIC FRAMEWORK FOR PROSPERITY (IPEF) DURING A VIRTUAL MINISTERIAL MEETING.
Indonesia, represented by Coordinating Minister for Economic Affairs Airlangga Hartarto, underscored the importance of active and equitable participation among all Indo-Pacific Economic Framework for Prosperity (IPEF) partner countries. This emphasis on inclusivity aims to drive cooperation and mutual benefit, as stated in the ministry’s announcement on 17 March 2024.
During the IPEF virtual ministerial meeting held on Thursday (14 March), Minister Hartarto expressed Indonesia’s welcome for the upcoming signing of the IPEF agreement, scheduled to take place in Singapore in June 2024. This agreement encompasses Pillar III, focusing on clean energy, and Pillar IV, centred on fostering a fair economy.
Indonesia commended the United States’ proposal for three workshops aimed at advancing initiatives related to Pillar IV of the IPEF framework. These workshops signify a proactive step towards realising the goals of the economic cooperation agreement.
United States Secretary of Commerce Gina Raimondo acknowledged the collaborative efforts of all IPEF partner countries, highlighting the swift conclusion of IPEF negotiations within a two-year timeframe. She particularly praised the engagement in four new Cooperative Work Programs (CWPs), underscoring the significance of sustained commitment to the framework across all pillars, including supply chain resilience.
In alignment with the IPEF’s objectives, Singapore’s Minister of Trade and Industry Gan Kim Yong extended an invitation to governments and private representatives of IPEF partner countries to participate in the Clean Economy Investor Forum in June 2024. This forum aims to catalyse investment cooperation in the clean economy sector among IPEF member nations.
Source: Antara News
