“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:

https://universalinstitutions.com/ipefs-clean-economy-investor-forum-indias-participation-and-investment-opportunities/