Canada to seek membership of U.S.-led Indo-Pacific Economic Framework
Canada will seek membership to the U.S-led Indo-Pacific Economic Framework, its foreign minister said Thursday, referring to a regional economic engagement initiative Washington is pitching to counter China’s growing clout.
The framework, commonly known as IPEF, was launched in May by U.S. President Joe Biden. It has been joined by 13 other countries: Australia, Brunei, Fiji, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand and Vietnam.
Canadian Foreign Minister Melanie Joly made the announcement following talks with U.S. Secretary of State Antony Blinken in Ottawa, saying that joining IPEF is intended to “further economic cooperation” in the Indo-Pacific region.
Blinken expressed support for Canada’s bid to join the framework, calling it a “fellow Pacific nation.”
“In the coming months, we will consult closely with other IPEF members on the development of a process for considering new members, because it’s not a decision the United States can make unilaterally, but we would welcome Canada’s participation,” he added.
The Biden administration has been clear that IPEF will not be a traditional free trade agreement involving tariff-cutting commitments.
IPEF is aimed to serve as an economic arrangement focused on further integration of Indo-Pacific economies, setting of standards and rules, such as in new areas like the digital economy, and ensuring secure and resilient supply chains.
In September, the 14 members agreed to start formal negotiations under the framework.