The Indo Pacific Economic Framework
The Supply Chains Pillar
Earlier this year, the United States launched the Indo-Pacific Economic Framework for Prosperity (IPEF) with Australia, Brunei, Fiji, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam. The 14 IPEF partners represent 40 percent of global GDP and 28 percent of global goods and services trade. The IPEF has four pillars: Trade; Supply Chains; Clean Economy; and Fair Economy.
AmCham members are invited to join a virtual meeting on October 19 featuring a discussion with the US Department of Commerce about Pillar Two (Supply Chains) and ways the United States can collaborate and negotiate with partners in Southeast Asia and the Indo-Pacific to improve supply chain resiliency, including strong trade facilitation provisions that will help ensure the movement of goods across borders.
In the Supply Chains Pillar, the countries will seek to coordinate actions to mitigate and prevent future supply chain disruptions and secure critical sectors and key products for manufacturers. Partners will identify sole sources and choke points in critical supply chains, and work collaboratively to address them by promoting and supporting investments in new physical and digital infrastructure. Partners will use data to improve supply chain logistics and invest in new training and development opportunities to upskill workers and ensure that all citizens share in the benefits of increased supply chain resilience. Finally, the countries will seek to ensure that the work promotes the labor standards that underpin fair, sustainable, and resilient supply chains.
AmCham Virtual Meetings provide unprecedented access to the political, policy, corporate, and institutional leaders whose expertise, insights, and experience shape the global business climate. This virtual meeting is hosted by our partners at the US Chamber of Commerce in Washington and there is no cost to participate. Please register your participation by clicking on the button below or by calling the AmCham office (84) 24 3934 2790.