Indo Pacific Economic Framework for Prosperity (IPEF)
About:
- The Indo-Pacific Economic Framework for Prosperity(IPEF) is an economic initiative launched by U.S. President Joe Biden on May 23, 2022.
- The framework launched with fourteen participating founding member nations in the Indo-Pacific region with an open invitation for other countries to join.
- The IPEF has fourteen participating member states, representing around 40% of the world’s GDP.
- Seven members of the IPEF are ASEAN(Association of Southeast Asian Nations) member states.
- The 14th and most recent entry into the IPEF was Fiji, which was welcomed into the framework on May 27, 2023 as the first Pacific Island nation to join.
- Including the United States, the following member countries joined in the framework:
Member countries with the four largest GDPs:
- India (partly opted out on the trade pillar)
- Japan
- South Korea
- United States
Countries in Oceania:
ASEAN member states:
- Brunei
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- The IPEF has fourteen participating member states, representing around 40% of the world’s GDP.
- Seven members of the IPEF are ASEAN(Association of Southeast Asian Nations) member states.
- The 14th and most recent entry into the IPEF was Fiji, which was welcomed into the framework on May 27, 2023 as the first Pacific Island nation to join.
- Including the United States, the following member countries joined in the framework:
Member countries with the four largest GDPs:
- India (partly opted out on the trade pillar)
- Japan
- South Korea
- United States
Countries in Oceania:
ASEAN member states:
Syllabus: Prelims
