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Indo-Pacific Economic Framework for Prosperity | U.S. Department of Commerce
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src="https://www.commerce.gov//themes/custom/commerce/images/commerce/mail.svg"> </a> </li> </ul> </div> </div> <div id="block-commerce-content" class="block block-system block-system-main-block"> <article data-history-node-id="4557" role="article" about="/ipef" typeof="schema:WebPage"> <span property="schema:name" content="Indo-Pacific Economic Framework for Prosperity" class="rdf-meta hidden"></span> <div> <div class="flexslider-field-wrapper"> <div id="flexslider-1" class="flexslider optionset-default"> <ul class="slides"> <li> <article class="media media--type-image media--view-mode-"> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <img loading="lazy" src="/sites/default/files/styles/flexslider_full/public/2024-01/IPEF-Leaders.jpg?itok=FERgwpX7" width="800" height="500" alt="IPEF Leaders" typeof="foaf:Image" class="image-style-flexslider-full" /> </div> </article> </li> <li> <article class="media media--type-image media--view-mode-"> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <img loading="lazy" src="/sites/default/files/styles/flexslider_full/public/2024-08/SGR-Keynote-at-IPEF.jpg?itok=TQ0PzMof" width="800" height="500" alt="U.S. Secretary of Commerce Gina Raimondo Keynote Speech" typeof="foaf:Image" class="image-style-flexslider-full" /> </div> </article> </li> <li> <article class="media media--type-image media--view-mode-"> <div class="field field--name-field-media-image field--type-image field--label-hidden field__item"> <img loading="lazy" src="/sites/default/files/styles/flexslider_full/public/2024-02/All-Ministers-Family-Photo.JPG?itok=Zxb95ep-" width="800" height="500" alt="Ministers at IPEF" typeof="foaf:Image" class="image-style-flexslider-full" /> </div> </article> </li> </ul> </div> </div> <div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>In May 2022, the United States launched the Indo-Pacific Economic Framework for Prosperity, or IPEF, with a dozen initial Partners across the Indo-Pacific. IPEF is part of the Biden Administration's commitment to strengthening ties with allies and partners and tackling 21st-century economic challenges in the Indo-Pacific region.</p> <p>The Framework seeks to advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness for the 14 IPEF economies. The Framework also will provide tangible benefits that fuel economic activity and investment, promote sustainable and inclusive economic growth, and benefit workers and consumers across the region. </p> <p>Since its launch, the IPEF Partners have engaged in intensive discussions to scope out each of the four pillars of the Framework, covering <a href="//www.commerce.gov/ipef/pillar-i">Trade</a>; <a href="//www.commerce.gov/ipef/pillar-ii">Supply Chains</a>; <a href="//www.commerce.gov/ipef/pillar-iii">Clean Economy</a>; and <a href="//www.commerce.gov/ipef/pillar-iv">Fair Economy</a> respectively.</p> <p>At the conclusion of the Senior Officials and Ministerial meetings in September 2022, the Partners reached consensus on Ministerial Statements summarizing objectives for each pillar. Text-based negotiations for each of the four IPEF pillars commenced with the first negotiating round in Brisbane in December and have continued since. The IPEF Partners agreed to an aggressive negotiating schedule for 2023 in order to make substantial progress and have since substantially concluded negotiations for Pillar II in May 2023 and substantially concluded negotiations for Pillars III and IV in November 2023.</p> <h3><strong>The Partners</strong></h3> <p>The United States is proud to work with 13 diverse partner countries representing 40 percent of global GDP and 28 percent of global goods and services trade.</p> <p>The Partners include:</p> <ul><li>Australia;</li> <li>Brunei Darussalam;</li> <li>Fiji;</li> <li>India;</li> <li>Indonesia;</li> <li>Japan;</li> <li>the Republic of Korea;</li> <li>Malaysia;</li> <li>New Zealand;</li> <li>Philippines;</li> <li>Singapore;</li> <li>Thailand; and</li> <li>Vietnam.</li> </ul><p>The United States has deep and expanding economic ties with these Partners: U.S. foreign direct investment in the region totaled more than $969 billion in 2020 and has nearly doubled in the last decade. Trade with the Indo-Pacific supports more than three million American jobs and is the source of nearly $900 billion in foreign direct investment into the United States. Deepening our economic engagement in the region will boost prosperity at home and abroad, creating more jobs and raising standards across the region.</p> <h3><strong>Latest News</strong></h3> <p><strong>September 2024: Virtual Ministerial Meeting </strong></p> <p>On September 23, 2024, U.S. Secretary of Commerce Gina Raimondo and her 13 IPEF counterparts attended their third Ministerial meeting of the year.</p> <p>⇒ Read the Press Release: <a href="//www.commerce.gov/news/press-releases/2024/09/secretary-raimondo-ipef-ministers-welcome-upcoming-entry-force-clean" rel="noreferrer">Secretary Raimondo, IPEF Ministers Welcome Upcoming Entry into Force of the Clean Economy Agreement, Fair Economy Agreement, and Agreement on the Indo-Pacific Economic Framework for Prosperity (IPEF) and Commit to Continued Progress at Virtual Ministerial</a>.</p> <p> </p></div> </div> </article> </div> </div> </div> </div> </div> </main> <footer class="usa-footer usa-footer--big" role="contentinfo"> <div class="usa-grid usa-footer-return-to-top"> <a href="#">Return to top</a> </div> <div class="usa-footer__primary-section"> <div class="grid-container"> <div class="region region-footer-menu"> <div class="grid-row grid-gap"> <div class="mobile-lg:grid-col-6 desktop:grid-col-4"> <section class="usa-footer__primary-content usa-footer__primary-content--collapsible"> <h4 class="usa-footer__primary-link">Explore</h4> <ul class="usa-list usa-list--unstyled add-list-reset"> <li class="usa-footer__secondary-link"> <a href="/issues" title="Issues" data-drupal-link-system-path="issues">Issues</a> </li> <li class="usa-footer__secondary-link"> <a href="/news" title="News" data-drupal-link-system-path="news">News</a> </li> <li class="usa-footer__secondary-link"> <a href="/data-and-reports" title="Data and reports" data-drupal-link-system-path="node/555">Data and reports</a> </li> <li class="usa-footer__secondary-link"> <a href="/work-with-us" title="Work with us" data-drupal-link-system-path="node/556">Work with us</a> </li> </ul> </section> </div> <div class="mobile-lg:grid-col-6 desktop:grid-col-4"> <section class="usa-footer__primary-content usa-footer__primary-content--collapsible"> <h4 class="usa-footer__primary-link">About us</h4> <ul class="usa-list usa-list--unstyled add-list-reset"> <li class="usa-footer__secondary-link"> <a href="/about" data-drupal-link-system-path="node/477">Our mission</a> </li> <li class="usa-footer__secondary-link"> <a href="/about/strategic-plan" title="Department of Commerce's strategic plan" data-drupal-link-system-path="node/548">Strategic plan</a> </li> <li class="usa-footer__secondary-link"> <a href="/bureaus-and-offices" title="Department of Commerce's bureaus and offices" data-drupal-link-system-path="bureaus-and-offices">Bureaus and offices</a> </li> <li class="usa-footer__secondary-link"> <a href="/opog/privacy/privacy-laws-policies-and-guidance" title="Department of Commerce's privacy program" data-drupal-link-system-path="node/4666">Privacy program</a> </li> </ul> </section> </div> <div class="mobile-lg:grid-col-6 desktop:grid-col-4"> <section class="usa-footer__primary-content usa-footer__primary-content--collapsible"> <h4 class="usa-footer__primary-link">Get in touch</h4> <ul class="usa-list usa-list--unstyled add-list-reset"> <li class="usa-footer__secondary-link"> <a href="/about/contact-us" data-drupal-link-system-path="node/483">Contact us</a> </li> <li class="usa-footer__secondary-link"> <a href="/opog/open-government/open-government-plan" title="Open government" data-drupal-link-system-path="node/4646">Open government</a> </li> <li class="usa-footer__secondary-link"> <a href="/opog/foia/foia-requests" title="Freedom of Information Act" data-drupal-link-system-path="node/6456">FOIA</a> </li> </ul> </section> </div> </div> </div> </div> </div> </div> <div class="usa-footer__secondary-section"> <div class="grid-container"> <div class="grid-row grid-gap"> <div class="usa-footer__logo grid-row mobile-lg:grid-col-6 mobile-lg:grid-gap-2"> <div class="mobile-lg:grid-col-auto"> <a href="/"> <img class="usa-footer__logo-img" src="/themes/custom/commerce/assets/img/doc_logo.png" width="80" height="80" alt="Department of Commerce logo"/> </a> </div> <div class="mobile-lg:grid-col-auto"> <div class="footer-address"> 1401 Constitution Ave NW<br/> Washington, DC 20230 </div> </div> </div> <div class="usa-footer__contact-links mobile-lg:grid-col-6"> <div class="usa-footer__social-links grid-row"> <a href="https://twitter.com/commercegov" aria-label="U. 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