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U.S. commerce chief sees Indo-Pacific economic framework early next year -Breaking

by Mike Robinson

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SINGAPORE, (Reuters) – U.S. Commerce Secretary Gina Raimondo stated Wednesday that the Indo-Pacific economic framework could launch at the beginning of next year. Her Asia trip was intended to establish the foundation for possible partnerships.

Raimondo stated that “we are likely to start a more formal proces in the beginning next year which will culminate into a proper economic framework for the region.” He spoke at the Bloomberg New Economy Forum, Singapore.

She answered “yes, exactly” when asked if that meant an actual agreement.

Joe Biden, the President of the United States, stated last month that Washington would begin discussions with Indo-Pacific partners to develop a regional economic framework.

Raimondo stated that she had been to Tokyo prior to her Singapore trip and will be going back there next.

Critics point out the lack of economic components in U.S. strategies for the region after President Donald Trump pulled out of a U.S.-inspiring trade deal known as Comprehensive and Progressive Agreement For Trans-Pacific Partnership.

China stated in September that they had applied to join CPTPP’s trade pact. The pact was signed by eleven countries (Australia, Canada, Chile and Japan) in 2018.

This is not about China. Raimondo explained that it is all about building solid commercial and economic relationships in Indo Pacific with our partners. “We have enjoyed a strong relationship over the last few years, but not for many years.

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