US commerce secretary hails progress at year’s first meeting of Indo-Pacific trade grouping

By GRANT PECK
Associated Press

BANGKOK (AP) — U.S. Commerce Secretary Gina Raimondo has praised the progress made by the 14 countries in the Indo-Pacific Economic Framework for Prosperity after the group held a ministerial meeting to discuss proposed guidelines for regional commerce. Raimondo took part in the virtual ministerial meeting hosted in the Thai capital Bangkok. This week she has visited the Philippines and Thailand on a Asia tour where she and a private sector delegation have touted two-way trade and investment. Washington launched the Indo-Pacific Economic Framework, or IPEF, in May 2022 to establish a zone of economic cooperation in a region that is estimated to account 40% of global GDP. Its principles are supposed to covert trade, supply chains, clean economy, and fair economy.