Tokyo, 24 March 2022 (TDI): US President Joe Biden along with 12 Indo-Pacific countries launched the Indo-Pacific Economic Forum during his visit to Japan.
President Joe Biden is on a visit to America’s Indo-Pacific partners, South Korea and Japan, to enhance ties. The President has attempted to re-focus US’ attention on the Indo-Pacific region in the face of the war in Ukraine.
Yesterday in Tokyo, we launched the Indo-Pacific Economic Framework for Prosperity to create a stronger, fairer, more resilient economy for families, workers, and businesses in the United States and in the Indo-Pacific region. pic.twitter.com/O3Q3vq30Pd
— President Biden (@POTUS) May 24, 2022
The Indo-Pacific Economic Forum aims to enhance and strengthen economic cooperation and commercial collaboration among its members. Initial members of the forum include the US, Australia, Brunei, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.
Moreover, the forum is based on four pillars to establish strong commitments for strengthening economic engagement in the region. These pillars are economic connectivity, resilience, fairness, and a clean economy.
The member countries will seek to enhance trade and cooperate on various financial issues. Likewise, they will attempt to increase supply-chain resilience in the face of potential challenges. In addition, the forum will emphasize environmental standards and clean energy. Finally, they will collaborate on strengthening anti-money laundering and anti-corruption regimes.
Secretary of State meets Japanese Foreign Minister
The US Secretary of State, Antony Blinken, accompanied President Biden as a part of his delegation to Japan. He held a meeting with the Foreign Minister of Japan, Hayashi Yoshimasa. The officials discussed US-Japan bilateral ties and the way forward.
Excellent discussion today in Tokyo with @MofaJapan_en Hayashi. We are more aligned than ever in our endeavor to strengthen economic security in the #IndoPacific and, together with our Quad partners, to promote regional peace, security, and prosperity. pic.twitter.com/MQ8FH3ScDx
— Secretary Antony Blinken (@SecBlinken) May 23, 2022
They reaffirmed their full support for Ukraine in its war against Russia. Furthermore, the US Secretary and Japanese Foreign Minister welcomed the launch of the Indo-Pacific Economic Framework. They expressed that the forum will be a driving force for prosperity and connectivity in the region.
Meanwhile, they also condemned North Korea’s ballistic missile launches. In addition, Secretary Blinken and Foreign Minister Hayashi discussed their shared interest in maintaining peace and stability in the Taiwan Strait.