Washington DC, 5 September 2022 (TDI): The President of the United States of America, Joe Biden will host the first-ever US-Pacific Island Country Summit in Washington, DC on September 28-29, 2022.
President Biden will host the first ever U.S.- Pacific Island Country Summit, which will be held in Washington, D.C. on September 28-29, 2022. https://t.co/uY7Of5fM7D pic.twitter.com/ZvhhdXPk3m
— U.S. Embassy Suva (@USEmbassySuva) September 4, 2022
The Summit will demonstrate the United States strong and enduring engagement with Pacific Island nations and the Indo-Pacific region, based on shared history, values, and interpersonal ties.
Moreover, the Summit will represent the United States and Indo-Pacific regions’ growing and deeper collaboration on critical problems.
Both regions are collaborating on issues such as climate change, pandemic response, economic recovery, maritime security, environmental protection, and promoting a free and open Indo-Pacific.
United States Strategy for Pacific Countries
The US launched its new strategy for a “free and open Indo-Pacific region” on 11 February 2022. It pledged assistance for regional connectivity, commerce, and investment, and strengthening of bilateral and multilateral alliances.
First, the strategy emphasizes cooperation with regional allies and partners more heavily. Secondly, it focuses on an Indo-Pacific Economic Framework that will promote new methods of trade that fulfill high labor and environmental standards.
US and Pacific Countries’ trade relations
In 2020, bilateral commerce between the United States and Pacific Island economies totaled $968 million. The value of U.S. exports of products was $548 million, while imports were $420 million.
Further, the US also signed a Trade and Investment Framework Agreement (TIFA) with Fiji, on October 15, 2020. The TIFA facilitates the expansion and consolidation of bilateral trade and investment ties between the two countries.
Also read: US Secretary of State visits Indo-Pacific and Africa
This is the United States’ first TIFA with a developing state in the Pacific, and it allows other small Pacific Island states to participate as observers in TIFA discussions under certain conditions.
The agreement helps to strengthen US economic commitment to the region and promotes a free and open Indo-Pacific. In addition, Pacific countries and the United States also interact multilaterally through the Asia Pacific Economic Cooperation (APEC) forum.
