ASIATODAY.ID, SAN FRANCISCO – The series of negotiations and meetings on the Indo-Pacific Economic Framework (IPEF) in San Francisco, United States, closed with a Head of State Level Meeting, on Thursday, November 16 2023.
The meeting was chaired by United States President Joe Biden and attended by 14 heads of government of other IPEF partners, or ministers representing them. The High Level Meeting aims to convey the progress of development and joint commitment to be achieved through the IPEF partnership.
The meeting only provided a limited opportunity for leaders of IPEF partner countries to express their views and hopes for IPEF. Apart from President Joko Widodo, only 3 heads of state were given the opportunity to deliver remarks, namely the Prime Minister of Japan, the Prime Minister of Singapore and the President of Vietnam.
President Joko Widodo on this occasion reiterated the need for cooperation in the Indo-Pacific Region.
“Indonesia is always open to collaborating with anyone based on the principle of mutual benefit,” stressed President Joko Widodo in his welcoming speech.
Furthermore, President Joko Widodo also expressed Indonesia’s view that “IPEF’s success will depend on mutually beneficial benefits, which can be felt in real terms by all IPEF Partner Countries”.
Meanwhile, President Joe Biden conveyed the significant progress that has been made towards IPEF.
“Since the meeting of heads of government in Tokyo in May last year until now, all IPEF partner countries have achieved substantial progress and consensus for the 3 IPEF Pillars, namely Pillar II Supply Chain, Pillar III Clean Economy, and Pillar IV Fair Economy,” emphasized the President. Joe Biden.
President Joe Biden also said that all IPEF partners had signed an MoU on the Pillar II Agreement on Supply Chains, which is expected to help identify supply chain obstacles before disruption occurs.
President Joe Biden expressed a focus on the clean energy sector.
“The Clean Economy Pillar III Agreement is expected to accelerate the energy transition in the Indo-Pacific region through the creation of greater government and private investment in clean energy innovation and supporting infrastructure,” said President Joe Biden.
President Joe Biden also announced several investment collaborations in the clean energy sector with the Philippines, Thailand, Indonesia and India.
Furthermore, in Pillar I of Trade, President Joe Biden revealed that all IPEF partner countries have made efforts to show progress in achieving high standard trade regulations including strengthening labor and environmental regulatory standards. IPEF partners are also committed to expanding cooperation to address challenges in the use of artificial intelligence, energy security and semiconductors.
“All IPEF partner countries have also agreed to launch a critical mineral dialogue to strengthen future supply chains and create jobs in the clean energy sector,” said President Joe Biden.
Furthermore, President Joe Biden invited IPEF partner countries to strive to direct their policies towards implementing high standards that are transparent, inclusive and innovative. (AT Network)
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