JAKARTA – A U.S. interagency delegation is in Bali, Indonesia for the second negotiating round of the Indo-Pacific Economic Framework for Prosperity (IPEF), which will take place March 13-19, 2023.
The Bali IPEF negotiating round is being hosted by Indonesia’s Coordinating Ministry for Economic Affairs. The U.S. delegation is led by Sarah Ellerman, IPEF Pillar I Chief Negotiator and Assistant United States Trade Representative (USTR) for Southeast Asia and the Pacific (Acting), and Sharon H. Yuan, Department of Commerce Counselor and Chief Negotiator for Pillars II-IV. Negotiators from 14 countries are participating in the current negotiating round.
“The Indo-Pacific Economic Framework will help us grow our economies in a sustainable and inclusive way,” said Ambassador Sung Y. Kim. “We thank Indonesia for hosting hundreds of negotiators from throughout the Indo-Pacific this week to promote prosperity and development throughout the region.”
In May 2022, the United States launched the IPEF with Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam.
The IPEF represents an affirmative vision of economic cooperation among allies and like-minded partners in the Indo-Pacific region, reflecting a collective desire to address 21st century challenges that go beyond trade and investment.
In September 2022, IPEF partners issued Ministerial Statements, which outline the scope of negotiations for the four IPEF pillars. The four pillars include: Trade, Supply Chains, Clean Economy, and Fair Economy.
The first IPEF negotiating round was held in December 2022 in Brisbane, Australia. Information on the Brisbane negotiating round can be found here.
A special negotiating round on Pillars II-IV was held earlier this month in New Delhi, India. More information can be found here.
For background on IPEF, please visit https://ustr.gov/ipef and https://www.commerce.gov/indo-pacific-economic-framework.