This, in turn, will help level the competition between workers and businesses in both the United States and the Indo-Pacific region, she said.
According to White House spokesman Karine Jean-Pierre, the Indo-Pacific Economic Framework (IPEF) proposed by the United States as part of the Indo-Pacific strategy will help further strengthen economic relations with countries in the region. It is about. The new framework also encourages investment in the green economy.
President Joe Biden will visit Seoul on May 20 for three days to reveal details of the US-led economic framework. He will leave Seoul to visit Japan on May 22nd.
“Because it is relevant to our economic framework, we will focus on building agreements with Indo-Pacific partners and on the development of the modern digital economy, including opening the door to SMEs.” She said at a daily press conference. ..
IPEF aims to reduce supply chain vulnerabilities, drive investment and create good work for both people. She said it would encourage investment in the green economy, and building an economy with investment in the green economy and fairer tax and anti-corruption practices is “a place of competition not only for workers but also for businesses.” Added that it would level.
“The United States has a strong economic and trade relationship in the Indo-Pacific, so I agree that it is imperative to step up economically in the region and do it quickly,” said Jean-Pierre.
The proposed IPEF develops a new approach to trade that meets high labor and environmental standards. Manage digital economy and cross-border data flow according to open principles, including through the new Digital Economy Framework. Promote a diverse, open, predictable, resilient and safe supply chain. Make a shared investment in decarbonization and clean energy. Promote free, fair and open trade and investment through Asia-Pacific Economic Cooperation (APEC). And close the infrastructure gaps in the region through Build Back Better World with G7 partners.
Fiber2Fashion News Desk (DS)
IPEF to help strengthen economic relations with Indo-Pacific countries: USA
Source link IPEF to help strengthen economic relations with Indo-Pacific countries: USA