Negotiations for Indo-Pacific 'Economic Framework' Likely to Begin in 2022, Raimondo Says
The Indo-Pacific economic framework in early discussions between the U.S. and several Pacific Rim countries could see a more formal process begin in early 2022, Commerce Secretary Gina Raimondo said at a forum hosted by Bloomberg Nov. 17. The framework…
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would be “more robust in some ways” than a traditional free trade agreement, addressing areas not usually covered by trade pacts, she said. Currently in Singapore, Raimondo also discussed the framework in Tokyo on her current trip (see 2111150047), and will be heading to Malaysia, New Zealand and Australia. Raimondo told the forum the topics addressed by the framework could be broader, such as partnerships to build a more resilient supply chain; interoperability, particularly in the context of digital trade; standards for emerging technologies; semiconductors; and green technologies. The U.S. rejoining the Trans-Pacific Partnership is not going to happen now “for various reasons,” Raimondo said. But the framework represents an effort by the Biden administration to reengage economically with the Indo-Pacific, she said. The U.S. has been “absent in the last few years,” and there seems to be a strong “pull to have us back,” Raimondo said.