The Government of India is currently hosting special rounds of negotiations for the Indo-Pacific Economic Framework (IPEF) from 8-11 February 2023, in New Delhi.
The Fiji delegation is led by Permanent Secretary for Trade, Co-operatives, SMEs and Communication, Mr. Shaheen Ali and consists of Senior Trade officials of the Fiji Government.
The India round of negotiations focused on Pillar II – Supply Chain, Pillar III – Clean Economy and Pillar IV – Taxation and Anti-Corruption. The first round of talks was held in December 2022, in Brisbane, Australia.
Fiji’s Chief Negotiator shared that the IPEF will be a critical instrument in advancing Fiji’s economic cooperation with major trading partners. “The IPEF will forge ‘new grounds’ in Fiji’s trade and economic relations with our partners in the Indo-Pacific region, who constitute 60 percent of the world’s population and 40 percent of the GDP”, said Chief Negotiator and Permanent Secretary for Trade, Co-operatives, SMEs, and Communication.
“We believe that IPEF will play a massive role in supporting the growth and development of the Indo-Pacific region, and we are committed to contributing to its success”, said Mr. Ali.
Fourteen countries, including Fiji and the United States, are members of the IPEF launched on the sidelines of the Quad Summit in Tokyo in May 2022. Apart from Fiji and the US, the 12 other members of the IPEF are Australia, Brunei, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam.
In addressing fellow Chief Negotiators, the Permanent Secretary stated that Fiji welcomes a number of extrinsic benefits that are already visible as part of the IPEF. However, there is still a need to focus on balancing “commitments against benefits” – within the framework. This intrinsic or inner balance will make IPEF even more attractive.
The IPEF is a regional initiative to promote economic cooperation and integration in the Indo-Pacific region. The special rounds of negotiations are an opportunity for participating countries to engage in discussions and negotiations on a range of issues related to the resilience of supply chain and logistics, investment, economic cooperation, environmental sustainability, climate resilience, clean energy and anti-corruption and taxation matters.
The delegation from Fiji will work with representatives from other participating countries to advance the interests of Fiji in the IPEF negotiations. This includes exploring new opportunities for trade and investment, and working to develop economic partnerships that will benefit Fiji and its partners.
The Ministry of Trade, Co-operatives and SMEs has established national mechanisms to consult domestic stakeholders, including private sector and expert agencies, to ensure that Fiji’s views and position fully represent Fiji’s national interest.
The IPEF has an intensive negotiating Agenda whereby Parties aim to conclude at least one pillar by May 2023 and all four Pillars of the IPEF Agreement by November 2023. “We are committed to working with our partners to advance the interests of Fiji and to help ensure the continued growth and prosperity of the region. Domestically, this will require immense team-effort on the part of the Government, Private Sector and the Civil Society”, said the Permanent Secretary.
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