Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial
On May 27th, the Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial was held in Detroit. Mr. NISHIMURA Yasutoshi, Minister for Economy, Trade and Industry, and Mr. YAMADA Kenji, State Minister for Foreign Affairs, attended the meeting to represent Japan. The overview of the meeting is as follows:
- The Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial was co-hosted by H.E. Ambassador Katherine Tai, United States Trade Representative, and the Honorable Gina Raimondo, Secretary of Commerce of the United States of America, and attended by representatives from Australia, Brunei, Fiji, India, Indonesia, Malaysia, New Zealand, Philippines, Republic of Korea, Singapore, Thailand, Vietnam, and Japan.
- The participants exchanged views on the following four pillars: (1)Pillar 1 (trade), (2)Pillar 2 (supply chains), (3)Pillar 3 (clean economy), and (4)Pillar 4 (fair economy), and announced the substantial conclusion of the negotiations of (2)IPEF Supply Chain Agreement (Pillar 2) .
- During the ministerial, State Minister YAMADA stressed that ensuring inclusivity of the IPEF is essential and announced that Japan will implement training programs with Singapore among other initiatives as examples of concrete cooperation. These programs are aimed to be conducive to implementation of the IPEF initiatives, including (2)Pillar 2(supply chain) for which the negotiations were substantially concluded.
- During his stay, State Minister YAMADA held informal talks with all IPEF members individually as well as bilateral meetings with representatives of the United States, Fiji, Malaysia, and Vietnam. In these meetings and talks, State Minister YAMADA and his counterparts discussed the IPEF and other matters in the Indo-Pacific region, and confirmed that they will continue their cooperation in this regard.
(Reference1) Attendees from countries other than Japan and the U.S. (in alphabetical order)
- Australia: Senator Hon. Don Farrell, Minister for Trade and Tourism
- Brunei Darussalam: Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister's Office and Minister of Finance and Economy II
- Fiji: Manoa Kamikamica, Deputy Prime Minister and Minister for External Trade, Cooperatives, and SMEs
- India: H.E. Mr. Piyush Goyal, Minister of Commerce and Industry (online)
- Indonesia: H.E. Mr. Airlangga Hartarto, Coordinating Minister for Foreign Affairs
- Malaysia: Mr. Liew Chin Tong Y.B., Deputy Minister, International Trade and Industry
- New Zealand: Hon. Damien O’Connor, Minister for Trade and Export Growth
- Philippines: Hon. Alfredo E. Pascual, Secretary of Trade and Industry
- Republic of Korea: Dr. Ahn Duk-geun, Minister for Trade, Ministry of Trade, Industry and Energy
- Singapore: Mr. Gan Kim Yong, Minister for Trade and Industry
- Thailand: H.E.Mrs. Pornpimol Kanchanalak, Advisor to the Minister of Foreign Affairs
- Vietnam: H.E.Mr. Nguyen Hong Dien, Minister of Industry and Trade