Washington recently briefed Dhaka on the US-established Indo-Pacific Economic Framework (IPEF) with 12 other countries in the Indo-Pacific region, including India.
A joint statement issued after the Second High-Level Economic Consultation (HLEC) meeting between the United States and Bangladesh in Washington DC on Thursday (2 June) said that the United States briefed Bangladesh on Indo-Pacific Economic Framework (IPEF) and Bangladesh welcomed the information on IPEF’s supply chain resilience and de-carbonisation pillars.
At the meeting, the two countries shared a common goal of a free, open, inclusive, peaceful, and secure Indo-Pacific region for the prosperity of all, the statement said.
Dhaka is seeking technical assistance from the US to explore its marine resources sustainably and to further develop the country’s Blue economy for environmental protection and economic prosperity.
Salman F Rahman MP, Private Industry and Investment Advisor to the Prime Minister of Bangladesh, and Jose W Fernandez, Under Secretary for Economic Growth, Energy, and Environment of the US State Department co-chaired the day-long meeting.
US President Joe Biden launched the IPEF in Tokyo on 23 May with Australia, Brunei, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam, which together represent 40% of the world’s GDP.
IPEF is a new concept that seeks to start bargaining and negotiation through four main pillars. These are supply chain resilience, which has been challenged by COVID-19 and the Ukraine war, clean energy and de-carbonisation, anti-corruption and digital trade, and emerging technologies.
