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Taiwan welcomes US' proposed Indo-Pacific Economic Framework

Taiwan foreign ministry seeks increased regional economic integration

MOFA Spokesperson Joanne Ou.

MOFA Spokesperson Joanne Ou. (CNA photo)

TAIPEI (Taiwan News) — The Ministry of Foreign Affairs (MOFA) on Thursday (Feb. 10) expressed support for the U.S.’ proposed Indo-Pacific Economic Framework (IPEF) and said it will continue to exchange views with Washington concerning the framework.

President Biden first mentioned the IPEF at the East Asia Summit in October, saying the U.S. will work with partners to discuss the establishment of such a framework to strengthen cooperation in trade, digital economy and technology standards, supply chain resilience, carbon reduction and clean energy, infrastructure construction, and labor standards.

American Institute in Taiwan Director Sandra Oudkirk recently said that IPEF will be open and transparent and is intended to promote the cooperation of like-minded markets, Liberty Times reported.

Foreign Ministry Spokesperson Joanne Ou (歐江安) pointed out at a regular press conference Thursday that with regard to IPEF, U.S. Commerce Secretary Gina Raimondo, Trade Representative Katherine Tai, and Secretary of State Antony Blinken had discussed it with relevant countries during their trip to East Asia last year. The U.S. expects to strengthen economic and trade relations with Indo-Pacific nations through this mechanism, she said.

However, the U.S. has yet to announce the specific details of the framework.

Ou said that MOFA welcomes this development and pledges to maintain close contact with the U.S. concerning the goals and methods of the IPEF. She added that through existing economic and trade cooperation mechanisms and dialogue channels, Taiwan hopes to deepen bilateral cooperation on multiple areas such as trade, supply chain resilience, and infrastructure construction, as well as actively encourage Indo-Pacific economic integration.