Metro Manila (CNN Philippines, November 17) — Fourteen countries in the Indo-Pacific region, including the Philippines, agreed to implement measures that will prevent supply chain disruptions and substantially concluded talks on promoting green energy, their leaders said.
President Ferdinand Marcos Jr. on Friday (Philippine time) attended the 2nd Indo-Pacific Economic Framework for Prosperity (IPEF) Leaders’ Meeting in San Francisco, California in the US.
\”Here in San Francisco, California, our ministers signed the first-of-its-kind Supply Chain Agreement, and substantially concluded the negotiations on a groundbreaking Clean Economy Agreement and an innovative Fair Economy Agreement,\” the IPEF leaders said in a statement.
\”Our ongoing cooperation through these agreements will promote workers’ rights, increase our capacity to prevent and respond to supply chain disruptions, strengthen our collaboration on the transition to clean economies, and combat corruption and improve the efficiency of tax administration,\” they added.
The other members of the IPEF are Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Malaysia, New Zealand, Singapore, Republic of Korea, Thailand, the United States, and Vietnam.
The leaders added that 14 members “have made progress on and continue to work towards a mutually beneficial Trade Pillar outcome that advances workers’ rights through strong and enforceable labor standards.”
The IPEF also launched the Critical Minerals Dialogue to strengthen the critical mineral supply chains and boost regional economic competitiveness.
\”We intend to explore additional initiatives to advance cooperation and dialogue on areas of mutual interest, such as energy security and technology,\” the leaders said.
