U.S. Announces Plan to Host IPEF Ministerial Talks Sept. 8-9

Economy

Washington, Aug. 23 (Jiji Press)--U.S. President Joe Biden's administration said Tuesday countries participating in the Indo-Pacific Economic Framework for Prosperity initiative will hold a ministerial meeting in Los Angeles on Sept. 8-9.

At the meeting, Japan, India, South Korea and 11 other countries that have announced their plans to join the U.S.-led trade initiative will aim to declare the start of formal negotiations to establish new rules for the 21st century economy based on democratic values.

Biden launched the IPEF initiative during his visit to Japan in May, aiming to create a new economic circle of democratic nations that sets common rules on trade and investment, apparently to counter China.

It will be the first IPEF ministerial meeting since the ministers met virtually in July and the first ever to be held in person formally.

U.S. Trade Representative Katherine Tai and U.S. Secretary of Commerce Gina Raimondo will co-host the upcoming talks. From Japan, industry minister Yasutoshi Nishimura is expected to attend the ministerial meeting.

[Copyright The Jiji Press, Ltd.]

Jiji Press