Union Minister takes part in the first in-person Ministerial meeting of the Indo-Pacific Economic Forum in Los Angeles

Source: The post is based on the article “Union Minister takes part in the first in-person Ministerial meeting of the Indo-Pacific Economic Forum in Los Angeles” published in PIB on 10th September 2022.

What is the News?

The Union Minister of Commerce and Industry attended the first in-person Ministerial meeting of the Indo-Pacific Economic Forum (IPEF).

What is the Indo-Pacific Economic Forum (IPEF)?

IPEF was launched jointly by the US and other partner countries of the Indo-Pacific region in May 2022 in Tokyo, Japan.

Aim: To strengthen economic partnership among participating countries with the objective of enhancing resilience, sustainability, inclusiveness, economic growth, fairness and competitiveness in the region.

Members: The 14 members of the IPEF are — Australia, Brunei, Fiji, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam and the US.

Significance: IPEF would work to ensure that the Indo-Pacific Region would remain secure and open for business.