India attends Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial meeting in Singapore
India attends Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial meeting in Singapore
Indian delegation led by Secretary, Department of Commerce, Shri Sunil Barthwal participated in the Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial meeting held in Singapore on 6 June 2024.
The IPEF Ministerial Statement of 14 November 2023 declared substantial conclusion of negotiations for Clean Economy, Fair Economy, and the overarching Agreement on the Indo-Pacific Economic Framework for Prosperity. Pursuant to this, the IPEF partners completed legal review of the text for these agreements and domestic approval processes.
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Today, IPEF members signed these agreements which are first-of-their-kind approaches to addressing 21st century challenges and strengthening economic engagement across a critical region. India actively participated in the signing proceedings and the ministerial deliberations. However, India did not formally sign these agreements as domestic approval processes are still underway and will be completed after formation of the new government. These agreements will enter into force after at least five IPEF partners complete their internal legal procedures for ratification, acceptance or approval.
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