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Translated by: MOS English Team: Mark Wen

Biden said that the US-Japan alliance has always been the cornerstone for peace and prosperity in the Indo-Pacific region, and the establishment of the “Indo-Pacific Economic Framework” (IPEF) aims to further strengthen regional cooperation.

Image Source: cnbc

Japanese media pointed out earlier that Biden will announce the list of countries participating in the IPEF during his visit to Japan, and issue an official declaration. A total of 10 countries including the United States, Japan, South Korea, Australia, New Zealand, Singapore, Philippines, Malaysia, Vietnam and India are expected to participate.

In addition, Taiwan expresses its intention to join the IPEF, but White House National Security Adviser Jake Sullivan, who traveled with Biden to Japan on Air Force One, confirmed that Taiwan is not included in the IPEF. Sullivan said, “we seek to deepen our economic partnership with Taiwan, including on high-tech issues”

Image Source: bloomberg

The Indo-Pacific Economic Framework is a trade agreement designed to bring the United States and major Asian economies closer together on numerous issues. The IPEF covers four major areas of policy, including topics of trade, clean energy, supply chain resilience and tax issues, etc. IPEF advocates “fair and resilient trade” to promote regional economy development and establish a new economic cooperation circle that will benefit universally. It strives to achieve a broader framework, such as semiconductors and supply chains. He added, “we first choose to pursue this on a bilateral basis, but at the same time we will cooperate with other countries through the “framework”.


Proofread/Edit by: Grace
Posted by: Peter Chen

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