A ministerial-level meeting of the IPEF (Indo-Pacific Economic Framework), an economic partnership framework in which Japan and the United States participate, was held online, and each country discussed ways of cooperation, such as simplification of trade procedures.

The IPEF is a framework in which 14 countries, including Japan, the United States, India and Australia, participate. agreed to start negotiations in three areas.



On the 20th, a ministerial-level meeting was held online, attended by Minister of Economy, Trade and Industry Nishimura and Foreign Minister Hayashi.



According to the Ministry of Economy, Trade and Industry, at the meeting, based on the first face-to-face working-level meeting held in Australia this month, the meeting will focus on simplifying procedures to facilitate trade between participating countries and strengthening supply chains. We discussed how we should cooperate.



Regarding the IPEF, the United States is aiming for an early conclusion to the negotiations in order to counteract China's growing influence in Asia.



However, unlike past economic partnerships, the negotiation area does not include the elimination or reduction of tariffs.