Indian trade minister Goyal to take part in IPEF Ministerial in US
India's commerce minister Piyush Goyal addresses the media ahead of the G20 summit, in Rome on Friday
India's Commerce & Industry Minister Piyush Goyal will take part in the Indo-Pacific Economic Framework (IPEF) Ministerial that will take place in Los Angeles from September 8th to 9th. This will be the first in-person ministerial meet of the IPEF since the initiative's launch on the sidelines of the Tokyo Quad summit in May of this year and is expected to take forward the negotiations on trade and other related issues. Indian Prime Minister Narendra Modi took part at the time of the launch, along with leaders of the US, Australia and Japan.
While this is the first in-person ministerial meet that will taking place, meetings at official level have taken place to prepare groundwork for negotiations. First meeting of IPEF senior officials and experts took place in Singapore from July 13-14. It was followed by another meet in the same month of the grouping that took place virtually.
IPEF has 14 countries from the Indo-Pacific as its members. These are US, Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Viet Nam. The emergence of the grouping comes amid an aggressive China that has been weaponising trade. The initiative has 4 pillars on which future negotiations will take place--Trade, Supply Chains, Clean Energy, Decarbonization, and Infrastructure & Tax and Anti-Corruption.
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