This week I will travel to the United States to participate in the first in-person ministerial meeting of the new Indo-Pacific Economic Framework (IPEF).
IPEF brings together some of the most dynamic and fastest-growing economies in our region, representing 40 per cent of global GDP and including eight of Australia’s top ten trading partners.
IPEF members will explore innovative approaches to new and emerging trade and investment issues across a wide range of areas, including the digital economy; supply chains; clean energy; and tax and anti-corruption.
Through IPEF, Australia has the potential to attract more investment, cut red tape, and address major challenges brought about by climate change and supply chain disruptions, while finding new opportunities for Australian businesses and workers.
IPEF will complement existing regional economic architecture, build on Australia’s extensive network of regional and free trade agreements, and support the global rules-based trading system.
I look forward to working with my ministerial colleagues to deepen regional links and secure innovative and forward-looking outcomes for the Indo-Pacific region.
