IPEF: New Approach to International Trade or More of the Same?

Venue: The Foreign Correspondents’ Club of Thailand (FCCT)
Date: 13 September 2023
Time: 16.00 – 17.00

The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched in May 2022 by the US Biden Administration in collaboration with 13 Governments in Asia and the Pacific. Together, they represent around 40 percent of the global GDP, 28 percent of global goods and services trade, and 60 percent of the world’s population. IPEF claims it will become the largest contributor to global growth over the next 30 years. The White House positions IPEF as a non-traditional trade agreement that aims to ease non-tariff barriers, benefiting workers, supply chains, and its competition with China. The four pillars underpinning IPEF are:

  1. Trade
  2. Supply Chains
  3. Clean Economy
  4. Tax and Anti-Corruption Schemes

The end goal is to pave the way for “a stronger, fairer, more resilient economy for families, workers, and businesses in the United States and in the Indo-Pacific region.”

In this press briefing, civil society groups from IPEF countries, including the USA, will critically examine IPEF as a “non-traditional trade agreement” and its potential impacts on the global South, especially Thailand. As Thailand undergoes transitions with its new government, critical questions arise:

  • Who are the big actors in IPEF?
  • How will Thailand’s policy be influenced by IPEF and in what dimensions?
  • Who will ultimately benefit from this framework?

From the US to the Global South, representatives will discuss the trends and challenges that could emerge from the government’s engagement with IPEF. We encourage members of the press and those interested in international trade dynamics to attend this enlightening discussion.

For further information or to RSVP, please contact Anisa Widyasari at [email protected].