DTI Secretary Ramon Lopez represented PRRD to join the other ASEAN leaders in the launch of the Indo-Pacific Economic Framework (IPEF). The commitment to the IPEF was initiated by United States (US) President Joe Biden. The participating countries, including Japan, India, and key Asia Pacific economies, agreed to adopt a trade policy that creates inclusive growth and supports quality job creation that will benefit economies around the world.
The IPEF seeks to advance economic growth, resilience, sustainability, competitiveness, and inclusiveness within the Indo-Pacific region. It gives importance to promoting trade, trade facilitation, technology and the digital economy based on the IPEF’s pillars on supply chain resilience, clean energy, decarbonization, and infrastructure. Participating countries are Australia, Brunei, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, USA, and Vietnam.
