The second Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial Meeting was held in Detroit on Saturday (local time) hosted by the US. Union Minister for Commerce and Industry virtually participated in the meeting.
"They also addressed efforts to bolster economic cooperation, including through negotiations on the Indo-Pacific Economic Framework (IPEF), the promotion of clean and secure energy, and the establishment of diverse and resilient critical minerals supply chains," the White House statement rea
This comes as negotiators continue working towards achieving ambitious and high-standard outcomes ahead of the May round of negotiations, which will take place in Singapore.
India participated in the second Indo-Pacific Economic Framework (IPEF) Negotiating Round in Bali where 13 other countries, including, the United States, Australia, Brunei Darussalam, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and
India and Australia called for any Code of Conduct in the South China Sea to be effective, substantive and fully consistent with international law, without prejudice to the legitimate rights and interests of any state, including those not party to these negotiations, and support existing inc
The shift underscores the opportunities for India to deepen its partnership with the United States and its Asian treaty allies, along with the balancing act that New Delhi must maintain with Moscow, which has drawn closer to Beijing amid the war in Ukraine.
US and India held the 13th Ministerial-level meeting of the United States-India Trade Policy Forum (TPF) in Washington, which was co-chaired by US Trade Representative Ambassador Katherine Tai and Minister of Commerce and Industry Piyush Goyal.
In a statement, the Ministry of Commerce and Industry said Goyal complimented partner countries for taking the initiative in right earnest. He expressed his belief that IPEF will promote inclusive development through the enhancement of trade and investment in the region.
Yellen, who is visiting India for the first time as US Treasury Secretary, at the Microsoft India Development Centre, said that the pandemic and Russia-Ukraine war are reasons to further deepen the economic ties between both nations.
Union Finance Minister Nirmala Sitharaman on Friday met US Treasury Secretary Janet Yellen and reiterated that "India deeply values its relationship with the US as a trusted partner."