Paper Details

The Indo-Pacific Economic Framework for Prosperity (IPEF) is US President Joe Biden’s first significant trade and economic effort for the Indo-Pacific region. It was launched in May 2022 by the United States and thirteen allies involving Australia, India, Indonesia and Japan claiming that the framework would remain open for all other like-minded Indo-Pacific nations, sharing common aspirations for the dynamic region. However, it was not to be operated on the lines of a standard US free trade pact (FTA). It included pledges under four distinct pillars dealing with issues pertaining to trade, supply chain, sustainable energy, decarbonisation, infrastructure, tax and anti-corruption. The United States Trade Representative (USTR) would be the responsible agency to lead trade pillar exchanges, while the US Commerce Secretary would command the agency over the remaining pillars. The paper utilises qualitative research method and bases its findings on a descriptive cum analytical approach. It seeks to explore the intrinsic nature of the proposed framework and its centrality in the manifestation of a peaceful and stable future for the Indo-Pacific region. It further endeavours to put into perspective, the overall scope of the novel framework and the challenges US could face in its implementation.

Indo-Pacific, Commerce, Supply Chains, Decarbonisation, Anti-corruption.