The Philippines participated in the informal ministerial meeting of the so-called “trade pillars” of the Indo-Pacific Economic Framework at the US Embassy in Paris, France on June 11.
Trade Undersecretary Ceferino Rodolfo said the IPEF is envisioned to be a vehicle to spur investments from the private sector.
“We see the IPEF as a framework providing incentives to our stakeholders, tied up with the reforms that we are already undertaking domestically, through having a mechanism to link the Trade Pillar with pillars on supply chain resiliency and green energy transition,” he said.
US Trade Representative Ambassador Katherine Tai led the meeting, attended by all framework partners that joined the official launch of the IPEF in May 2022. These include Australia, Brunei, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, Vietnam and Fiji.
Tai highlighted the vision and goals of the IPEF for future negotiations specifically on trade, supply chain, clean energy, decarbonization, infrastructure, tax and anti-corruption.
