IPEF may bring 3-year exit clause to allow members to move out of deal

To enable easy exit of members from a pact

The 14-nation Indo-Pacific Economic Framework (IPEF), led by the United States (US), may include a ‘three-year exit clause’, giving its members the flexibility to move out of any of the pillars of the agreement if the need arises, people aware of the matter said.

The IPEF, launched by the US in May 2022, is designed to strengthen economic cooperation among Indo-Pacific nations and is perceived to be a strategic counter to China’s growing clout in the region. Apart from the US and India, the other members are: Australia, Brunei, Fiji, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore,