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Regarding the Launch of the Indo-Pacific Economic Framework (IPEF)

Japanese

May 23, 2022

Joint Press Release with the Ministry of Foreign Affairs

External Economic Policy
On May 23, Mr. Hagiuda Koichi, Minister of Economy, Trade and Industry attended a summit-level meeting on the launch of the Indo-Pacific Economic Framework (IPEF) and a ministerial meeting on the IPEF, both hosted by the United States.

1. Launch of the Indo-Pacific Economic Framework

Today, the United States hosted a summit-level meeting on the launch of the Indo-Pacific Economic Framework (IPEF). METI Minister Hagiuda joined Prime Minister Kishida in representing Japan in the meeting, and stated that Japan will support and participate in the framework. In a joint statement on the launch of the IPEF issued in the meeting, the 13 countries(Note) in attendance confirmed that they will begin discussions toward future negotiations.

Note: The following 13 countries will participate in the IPEF: the United States, Japan, Australia, New Zealand, Republic of Korea, India, and 7 from ASEAN (Brunei, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam).

After the meeting, representatives from the 13 countries discussed how to proceed in a ministerial meeting on the IPEF held by the United States' Secretary of Commerce Gina Raimondo and Trade Representative Katherine Tai. Minister Hagiuda attended from Japan, and stated that Japan intends to share its knowledge, together with the other countries involved, in order to ensure that the IPEF's tangible benefits for the region are realized and truly felt by all.

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