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Bali to Host Second Round of IPEF 2023

bbn/dok Hosts Second Round of IPEF 2023.

Representing Indonesia, Coordinating Minister for Economic Affairs Airlangga Hartarto conveyed Indonesia’s willingness to facilitate the second round of negotiations toward the Indo Pacific-Economic Framework (IPEF) in late 2022.

“Indonesia offers to host the Senior Official-level second round of IPEF negotiations in Bali in March 2023,” said Minister Airlangga.

The second round of IPEF was held in Bali from March 13-19, 2023 and attended by negotiators from 14 countries.

IPEF represents an affirmative vision of economic cooperation among allies and partners with a shared vision in the Indo-Pacific region. In particular, it aims to achieve shared goals in overcoming 21st-century challenges beyond trade and investment.

Since its launch, IPEF partners have been engaged in intensive discussions to elaborate on each of the four framework pillars, namely Trade (Pillar I), Supply Chains (Pillar II), Clean Economy (Pillar III), and Fair Economy (Pillar IV).

Currently, American interagency delegations have arrived in Bali. Among them are the Head of IPEF Pillar I Negotiators who is also the Acting Assistant U.S. Trade Representative (USTR) for Southeast Asia and the Pacific, Sarah Ellerman, and the Counselor of the Department of Commerce who is also the IPEF Pillar II-IV Chief Negotiator, Sharon H. Yuan.

“The Indo-Pacific Economic Framework will help us develop sustainable and inclusive economies,” said U.S. Ambassador to Indonesia Sung Y. Kim in his written message delivered by the U.S. Embassy in Jakarta on Tuesday (3/14/2023).

Previously, the first round of IPEF negotiations was held in December 2022 in Brisbane, Australia. Approximately 450 delegates from Indonesia, the United States, Australia, Brunei, Fiji, India, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam attended the negotiation session.

Subsequently, special negotiations on Pillars II-IV were held on February 8-11, 2023, in New Delhi, India. It is expected that the second round of IPEF negotiations will run smoothly in Bali.