Statement on Indo-Pacific Economic Framework for Prosperity – The White House

by | May 23, 2022 | Financial

We, the United States, Australia, Brunei Darussalam, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam of the Indo-Pacific region, acknowledge the richness and the diversity of our vibrant regional economy. We share a commitment to a free, open, fair, inclusive, interconnected, resilient, secure, and prosperous Indo-Pacific region that has the potential to achieve sustainable and inclusive economic growth. We acknowledge our economic policy interests in the region are intertwined, and deepening economic engagement among partners is crucial for continued growth, peace, and prosperity. We recognize the COVID-19 pandemic has underscored the imperative of working closely together to ensure that economic recovery and advancement are grounded in resilience, sustainability, and inclusivity.  The pandemic has also emphasized the importance of strengthening economic competitiveness and cooperation and securing critical supply chains, while stimulating job growth and improving economic opportunities, including for our workers, women, medium- and small-enterprises, and our societies’ most vulnerable groups. In the long term, economic competitiveness will be largely defined by our ability to harness technology, promote innovation, participate in the digital economy, justly transition energy systems and achieve energy security, and tackle the climate crisis in a manner that produces equitable, inclusive growth and improves socio-economic welfare.   In order to prep …

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