"13 IPEF MEMBERS COMMIT TO FAIR, CLEAN ECONOMY AGREEMENTs”

Why in the news?

Thirteen members of the Indo-Pacific Economic Framework for Prosperity (IPEF) bloc have signed agreements for fair and clean economies.
India’s formal signing is pending until domestic approval processes are completed after the formation of the new government, according to the Commerce Ministry.

About IPEF Clean Economy Investor Forum:

Initiative: Part of the Indo-Pacific Economic Framework (IPEF) to mobilize investments in sustainable infrastructure, climate technology, and renewable energy projects.
Participants: Brings together top investors, financial institutions, companies, startups, and entrepreneurs from the region.
Managed by: Invest India, India’s National Investment Promotion Agency.

source:quora

About IPEF (Indo-Pacific Economic Framework):

Initiative: US-led initiative to enhance economic partnership and resilience in the Indo-Pacific region.
Regional Arrangement: Aims to foster cooperation and economic integration in the Indo-Pacific region.
Structure: Not a Free Trade Agreement (FTA), allows members to negotiate specific aspects.
Negotiation Pillars: Four main pillars: Supply-chain resilience, Clean energy and decarbonization, Taxation and anti-corruption, Fair and resilient trade.
Member Countries: India and 13 countries in the Pacific Ocean region: Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States, and Vietnam.

Associated Article:

What's New