ITI Welcomes Vision for Indo-Pacific Economic Framework for Prosperity (IPEF) Following Ministerial Meeting
WASHINGTON – Today, global tech trade association ITI welcomed the ambitious and inclusive vision for the Indo-Pacific Economic Framework for Prosperity (IPEF) outlined by leaders participating in the ministerial meeting in Los Angeles:
“The vision outlined by the Indo-Pacific Economic Framework for Prosperity (IPEF) participating nations signals that IPEF partners are motivated to collaborate on advancing and implementing this critical effort,” said ITI’s President and CEO Jason Oxman. “To be successful, the Biden Administration must ensure IPEF promotes inclusive and enforceable digital trade rules, aligns with regional and global frameworks, enables cross-border data flows, expands market access, and supports resilient supply chains. As I learned during my recent trip to the region, prompt negotiation and concrete outcomes are crucial, and partner economies must see clear benefits and measurable incentives. To that end, it is imperative that the administration move quickly to develop and implement policies that establish IPEF as a model for trade, investment, and digital infrastructure in the Indo-Pacific region. The tech industry stands ready to assist in making IPEF as ambitious, tangible, and beneficial as possible.”
In June, ITI President and CEO Jason Oxman traveled to the region where he met with Japanese and South Korean government officials to discuss the initiative’s objectives.
In May, ITI developed the Trusted Digital Partnership Program based on its recent comments to the U.S. Department of Commerce and Office of the United States Trade Representative (USTR) regarding IPEF. The proposed program encourages investments by technology companies and facilitates business partnerships by incentivizing partner economies to adopt digital trade-facilitative regulatory policies and deploying capacity building and technical assistance to achieve these commitments.
ITI also outlined the global tech industry’s Indo-Pacific digital trade policy priorities in a blog in January 2022 and a letter to USTR Katherine Tai in September 2021.
###