WASHINGTON D.C. – In response to the launch of discussions towards an Indo-Pacific Economic Framework (IPEF), NFTC President Jake Colvin released the following statement:
“It’s important to see the United States taking a leadership role in the region, and today’s launch of the Indo-Pacific Economic Framework is a significant signaling exercise at a time of historic economic and geopolitical challenges.
“While it’s not a comprehensive trade deal, the potential for real economic gains exists if the economies choose to seize it.
“In particular, IPEF’s trade dialogue presents a unique opportunity to offer a different path on digital issues than the one that countries like China and Russia are following. There’s also a real chance to think outside the box to support regulatory dialogues on new issues like frontier technologies; the use of digital tools to facilitate access to renewable energy markets; and more inclusive participation in the regional economy.
“IPEF is also a chance to align on ambitious supply chain commitments that could ease customs bottlenecks in the region and facilitate global trade.
“The business community looks forward to working with the Administration and other stakeholders to shape concrete and commercially-meaningful outcomes in a timely manner.”
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.