Japan, U.S., 12 Others Agree to Start IPEF Talks
Los Angeles, Sept. 9 (Jiji Press)--Japan, the United States and 12 other countries agreed at a two-day ministerial meeting through Friday to start formal negotiations under the U.S.-led Indo-Pacific Economic Framework.
The move is aimed primarily at strengthening supply chains for semiconductors amid the growing significance of economic security against a backdrop of the U.S.-China rivalry.
Since the new framework was launched when U.S. President Joe Biden visited Japan in May this year, ministers from the 14 participating countries had a meeting for the first time.
At the meeting, the ministers adopted joint statements on the fields of trade, supply chain, clean economy and fair economy.
"We'll make efforts to create a free and fair economic order," Japanese Economy, Trade and Industry Minister Yasutoshi Nishimura said after the meeting, indicating that Japan and the United States will lead the making of new rules based on democratic values.
[Copyright The Jiji Press, Ltd.]