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HomeNewsCaribbean NewsUnited States to host Indo-Pacific Economic Framework for Prosperity (IPEF) ministerial in...

United States to host Indo-Pacific Economic Framework for Prosperity (IPEF) ministerial in San Francisco

WASHINGTON, USA — United States Trade Representative Katherine Tai and US Secretary of Commerce Gina Raimondo today announced that the United States will host the third in-person Indo-Pacific Economic Framework for Prosperity (IPEF) ministerial meeting in San Francisco, California, on November 13-14, 2023. The ministerial comes on the heels of the seventh in-person IPEF negotiating round from November 5-12, 2023, in San Francisco.

At the IPEF ministerial in San Francisco, the ministers will review the progress to date on the negotiations of high-standard outcomes under Pillars I (Trade), III (Clean Economy), and IV (Fair Economy). The Ministers also will discuss the substantial progress made since the substantial conclusion of the negotiations the IPEF Supply Chain Agreement under Pillar II at the IPEF ministerial meeting in Detroit, Michigan, on May 22, 2023.

“I am encouraged by the tremendous progress the United States and our fellow IPEF partners have made since we first began negotiations in September 2022,” said ambassador Katherine Tai. “We are meeting the moment in the face of today’s pressing challenges, and I look forward to hosting trade ministers in San Francisco with Secretary Raimondo to deliver on the promise of lifting up our economies and the middle class here in the United States and the Indo-Pacific region.”

“In under a year and a half, the Biden administration established and built out a framework of 14 partner nations in the Indo-Pacific to address long-term economic issues and allow the United States and our partners to nimbly respond and keep pace with new challenges and opportunities that arise – whether that’s mitigating the impact of a global pandemic on our supply chains or seizing new investment opportunities,” said secretary of commerce Gina Raimondo. “I look forward to hosting the IPEF ministers in San Francisco with ambassador Tai to keep up the momentum on the negotiations and uphold president Biden’s commitment to strengthening US competitiveness and fulfilling his vision for IPEF to advance meaningful and lasting economic engagement in the Indo-Pacific.”

The first IPEF ministerial in-person meeting was held in Los Angeles, California on September 8-9, 2022, where ministers announced the negotiating objectives for IPEF Pillars I-IV. Since that time, the IPEF partners have made significant progress towards the goal of concluding high-standard agreements to enhance economic prosperity in the United States and in the region.

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