Indo-Pacific economic framework for prosperity to deepen development: Govt

Delegation that participated in IPEF negotiations in Bali said the framework will deepen economic engagement through enhancement in trade and investment in the region

A Commerce Ministry-led inter-ministerial delegation took part in the second Indo-Pacific economic framework for prosperity (IPEF) negotiations in Indonesia's Bali last week, where it reiterated that the framework will deepen the economic engagement and promote inclusive development through enhancement in trade and investment in the region.

On the sidelines of the negotiating round (which were held between March 13 and March 19), India's chief negotiator and other representatives also held bilateral meetings with IPEF countries and other stakeholders concerned.

During the Bali Round, discussions were held on all the four pillars of the IPEF namely trade, supply chains, clean economy and fair economy (taxation and anti-corruption).

IPEF partners have committed to an aggressive negotiating schedule throughout 2023 with the objective of realising concrete benefits to enhance a shared vision for economic competitiveness and prosperity in their respective economies.

Negotiators from 13 other countries, including the US, Australia, Indonesia, Japan, South Korea, and Malaysia among others also participated in the Bali negotiating round.

--IANS

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