India Likely To Join IPEF's First Negotiating Round Next Mon...| MENAFN.COM

Wednesday, 30 November 2022 11:26 GMT

India Likely To Join IPEF's First Negotiating Round Next Month In Brisbane


(MENAFN- Colombo Gazette)

India is likely to join the first round of negotiations in the proposed Indo first round of negotiations in the proposed Indo Pacific Economic Framework (IPEF) which is scheduled to take place in Brisbane from December 10 to 15.

“The first in-person IPEF ministerial in Los Angeles in September created strong momentum, and after more productive conversations, we are excited to join our partners in Brisbane for the first in-person negotiating round next month. This will be an important opportunity to identify areas of consensus and continue developing the four IPEF pillars,” the office of the United States Trade Representative (USTR) said in a statement.

A central government official said India is likely to join negotiations in three out of the four pillars of the IPEF. India opted out of the most crucial trade pillar of the IPEF during the first in-person IPEF ministerial in September, attended by trade minister Piyush Goyal citing unclear benefits to member countries through this pillar. However, India agreed to participate in the remaining three pillars–supply chain, clean economy and fair economy. While the USTR is leading discussions on the trade pillar, the US commerce secretary is spearheading discussions on the other three pillars. (Business Standard)

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