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The trilateral diplomatic and economic relationship between Korea, the U.S. and Japan must be sustained even after their forthcoming elections next year, senior diplomats of Korea and the U.S. said Tuesday.
India's approach to negotiating labour provisions in free trade agreements (FTAs) is being questioned by experts, as it could potentially impact domestic manufacturing and trade competitiveness. India has begun to engage on labour issues in its trade negotiations with the UK, European Union, and the US-led Indo Pacific Economic Framework for Prosperity (IPEF).
India recently signed up for the supply chain resilience pillar of the Indo-Pacific Economic Framework for Prosperity and this can help the country join global value chain networks. New Delhi has been careful to join only those aspects of the framework that are deemed to be in the national interest.
According to the joint statement from IPEF nations, under the IPEF Fair Economy Agreement, the countries are committed to working together to enhance transparency, and accountability in their economies to improve the trade and investment environment in the Indo-Pacific region.
The fourth pillar of the IPEF, which aims to create a fair economy, will enhance information-sharing among its 14 members to facilitate asset recovery and strengthen cross-border investigations and prosecutions, commerce minister Piyush Goyal has said. | Latest News India