Indo-Pacific Economic Framework (IPEF)
The Indo-Pacific Economic Framework – driving sustainable and inclusive economic growth
The Indo-Pacific Economic Framework (IPEF) brings together some of our region’s largest, most dynamic, and fastest growing regional economies. Accounting for around 40 per cent of global GDP and including eight of Australia’s top 10 merchandise trading partners, IPEF presents an exciting opportunity to expand Australia’s business, trade and investment ties.
IPEF is a contemporary economic partnership between 14 Indo- Pacific economies. It goes beyond a traditional trade agreement and opens the door to new and innovative forms of economic cooperation. On 9 September 2022, IPEF members came together in Los Angeles to launch negotiations on a range of emerging trade and investment issues, including digital trade, supply chains, clean energy and decarbonisation, and tax and anti-corruption. Through IPEF, we have an opportunity to set the benchmark for ambitious rules and standards that improve the regional trade and investment climate and drive sustainable and inclusive economic growth in Australia, and across the Indo-Pacific region.
We are exploring new initiatives to: • make it easier to trade across borders by reducing non-tariff barriers and boosting digital trade • diversify regional supply chains and make them more resilient to disruptions • unlock green trade and investment opportunities and support the clean energy transition. Inclusivity is a core focus of IPEF and members have expressed their shared commitment to ensuring the benefits of trade are accessed and shared by all. Australia and New Zealand are leading negotiations through IPEF to expand meaningful access to, and participation in, regional economies for all segments of society. This will include work to address barriers to trade and investment opportunities for Indigenous peoples and women.
Launching IPEF negotiations is a significant step in the future of greater economic cooperation in the Indo-Pacific region and I am committed to IPEF’s success and its potential to develop new and innovative solutions to modern trade and economic challenges.
Senator The Hon Don Farrell Minister for Trade and Tourism
Have your say: We encourage interested stakeholders to have their say on the Indo-Pacific Economic Framework at: dfat.gov.au/trade/organisations/wto-g20-oecd-apec/indo-pacific-economic-framework
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Department of Foreign Affairs and Trade
business envoy
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