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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.
