Indo-Pacific Economic Framework for Prosperity Begins

Indo-Pacific Economic Framework for Prosperity Begins

June 7, 2022
Procurement

A group of Indo-Pacific nations has banded together to begin the process of developing an Indo-Pacific Economic Framework for Prosperity. This framework is intended to advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness amongst participating nations.

The countries taking part include the United States, Australia, Brunei Darussalam, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam

In a statement from the Whitehouse on the development of the framework, the nations involved in the pact “share a commitment to a free, open, fair, inclusive, interconnected, resilient, secure, and prosperous Indo-Pacific region that has the potential to achieve sustainable and inclusive economic growth.”

The initiative aims to contribute to cooperation, stability, and prosperity within the region.  The Whitehouse statement states; “We are committed to collaborating with our framework partners in a manner that acknowledges the importance of technical assistance and capacity building, allows us to maintain a flexible approach, and delivers tangible benefits for our people. Today, we launch collective discussions toward future negotiations on the following pillars. “

The framework is expected to encompass:

Trade:  Including the development of high-standard, inclusive, free, and fair trade commitments and the development of new and creative approaches in trade and technology policy.

Supply Chains: Including improving transparency, diversity, security, and sustainability in our supply chains to make them more resilient and well-integrated.

Clean Energy, Decarbonization, and Infrastructure: In line with the Paris Agreement the goals included efforts to support the livelihoods of people and workers, accelerate the development and deployment of clean energy technologies, decarbonize economies and build resilience to climate impacts.

Tax and Anti-Corruption:  Including the promoting of fair competition by enacting and enforcing the effective and robust tax, anti-money laundering, and anti-bribery regimes in line with existing multilateral obligations, standards, and agreements to curb tax evasion and corruption in the Indo-Pacific region.

To talk to us about our government procurement data, our API, or our research capability, get in touch.

Because you read this article, you may be interested in reading US Consults On Social Procurement

March 21, 2023

AUKUS Defence Procurement Deal

Australian Prime Minister Anthony Albanese joined the US President Joe Biden, and the UK Prime Minister Rishi Sunak, in San Diego this...
March 14, 2023

Australian Government Responds to COVID-19 Procurement Review

Many governments around the world have faced pressure regarding their procurement of COVID-19 treatments and vaccines, so it is encouraging to see...
March 8, 2023

EU Joint Ammunition Procurement

EU ministers will meet today in Stockholm to decide whether to  jointly procure  ammunition to aid Ukraine and replenish domestic stockpiles. EU...
March 7, 2023

Denial Of Service By Wall Of Text

Clarkesworld Magazine is a publisher of science fiction short stories. They accept and pay for submissions from anyone. As of last week,...
March 1, 2023

Canadian Government Announces Rail Procurement Process

This week, the Canadian Government announced a major step in the procurement process for their High Frequency Rail project: the launch of...
February 28, 2023

Deduplication Routines

Deduplication is a deceptively complex problem to handle at scale. There’s a simple, ugly and brutal way to do it, where you...
February 23, 2023

Policy Proposal: Analysts In Place

Data is critical to the functioning of government. Policies and services live or die on the quality of data. Successes and failures...
February 23, 2023

Hallucination As A Service

I asked Chat-GPT to find me some academic papers that highlight the usefulness of combining two different machine learning techniques. I hoped...
February 20, 2023

Future Trends in Government Procurement

Over the years, government procurement has undergone significant changes, with new trends emerging that are reshaping the way governments buy goods and...
February 15, 2023

Making Your Own Export Platform?

If you are building your own export platform, sourcing, organising and analysing your data has its challenges. Here are some of the...
February 14, 2023

Tackling Modern Slavery in Supply Chains – Guidance

On 26 March 2020, the UK became the first country to publish a Government Modern Slavery Statement, setting out the steps government...
February 8, 2023

Securing The Competitive Edge.

Are you an exporter looking for leads for your exporters? Do you want to help your in-country teams build more partnerships within...
February 7, 2023

The Benefits of Data Tech 101

Government procurement, the process by which government entities purchase goods, services and works from private businesses, is being revolutionised by the integration...
February 1, 2023

EU Awards New Gas Aggregation Contract

In December 2022, EU energy ministers agreed to create a platform for the collective demand aggregation and joint procurement of gas, with...
January 25, 2023

Does Procurement Need Blockchain?

Blockchain is fundamentally a database, but rather than a database where one item is allowed to replace another, each change to the...

Newsletter

Compelling research, insights and data directly into your inbox.

Recent media stories

Search