INDO- PACIFIC ECONOMIC FRAMEWORK FOR PROSPERITY ( IPEF)

* IPEF - INDO-PACIFIC FRAMEWORK FOR PROSPERITY 

*) It Is a Regional Arrangement To Build Cooperation And Economic Integration In The Indo-Pacific Region. 

*) It Was Launched By United State President Joe Biden On 23rd May 2022. 

*) The Framework Is Intended To Advance Resilience, Sustainability, Inclusiveness, Economic Growth, Fairness And Competitiveness For Member Economies. 

*) IPEF Will Seek To Complement And Build On Existing Regional Architecture And Support The Global Rules Based Trading System. 

*) 14 Partners Countries Of IPEF - 

Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, The Republic Of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, The US, Vietnam. 

*) The Economic Framework Broadly Rests On Four Pillars - 

a) Trade 

b) Supply Chain Resilience 

c) Clean Energy, Decarbonisation And Infrastructure 

d) Taxes And Anti Corruption Measure. 

*) The IPEF Is Not a Free Trade Agreement ( FTA). but It Allows Members To Negotiate The Parts They Want To.