Today, Representatives Ami Bera, M.D. (D-CA), Chairman of the Subcommittee on Asia, the Pacific, Central Asia, and Nonproliferation, and Gregory W. Meeks (D-NY), Chairman of the House Foreign Affairs Committee, issued the following statement regarding the official launch of the new Indo-Pacific Economic Framework for Prosperity:
"We applaud the Biden Administration for the official launch of the Indo-Pacific Economic Framework for Prosperity (IPEF). IPEF is a crucial first step in crafting an economic agenda for the region that supports American families and workers, further strengthens U.S. leadership in the region, and advances a free, open, and prosperous Indo-Pacific. Today, this region is an engine for global economic growth and a major center of gravity in geopolitics. For the last several years, the United States has been missing from the standard-setting table, and China has taken advantage of our absence to expand its influence and attempt to define the rules in the region. By working alongside our Indo-Pacific allies and partners, we can shape the rules and norms for the global economy and can safeguard our shared strategic interests in this critical region.
"In collaboration with a dozen Indo-Pacific partners representing 40 percent of the world's GDP, IPEF will address four pillars of economic engagement — 1) trade, 2) supply chains, 3) clean energy, decarbonization, and infrastructure, and 4) tax and anti-corruption — to make our economies more connected, resilient, clean, and fair. This 21st century approach will position the United States to once again play a leading role in addressing economic challenges and demonstrate the deep U.S. commitment to the shared interests in the region. Today's launch is a welcome step in the right direction, and we look forward to seeing other interested Indo-Pacific partners join the Indo-Pacific Economic Framework for Prosperity as the Administration expands its scope and reach."
