Government Participates in Official 5th IPEF Negotiations in Thailand... "Focused Discussions on Key Issues"

The Ministry of Trade, Industry and Energy announced on the 10th that the 5th official negotiations of the Indo-Pacific Economic Framework (IPEF) are scheduled to take place over seven days from the 10th to the 16th in Bangkok, Thailand.

The negotiations will be attended by 14 IPEF member countries, including the United States, Japan, Australia, Singapore, Vietnam, and India. Sector-specific negotiations will continue to achieve results within the year. The Korean government will participate in the negotiations by forming a government delegation composed of about 20 ministries, led by No Geon-gi, Director General of Trade Negotiations at the Ministry of Trade, Industry and Energy, as the chief representative.

Since the 4th round of negotiations held in Busan, Korea, in July, IPEF member countries have made efforts to advance negotiations by holding several intersessional meetings via video conference. The upcoming official negotiations, held after two months, are expected to focus on narrowing disputes in areas such as Pillar 1 (Trade), Pillar 3 (Clean Economy), and Pillar 4 (Fair Economy), and reducing differences among participating countries on key issues.

Director No stated, "Through the flexibility of participating countries and long hours of negotiations, the final agreement is becoming visible," adding, "As Korea contributed to the supply chain agreement reached last May, we will strive to advance negotiations to realize a clean economy and fair economy within the Indo-Pacific region."

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