IPEF's Final Negotiation of the Year by the 12th... "We Will Do Our Best to Achieve Maximum Results"

The Ministry of Trade, Industry and Energy announced on the 5th that the 7th official negotiations of the Indo-Pacific Economic Framework (IPEF) are scheduled to take place in San Francisco, USA, from the 5th to the 12th.

This negotiation is being held just ten days after the conclusion of the 6th round of talks held in Malaysia at the end of last month. It is expected to be the last official negotiation of 2023. During this round, IPEF participating countries including the United States, Japan, Australia, New Zealand, Singapore, Thailand, Vietnam, Brunei, Malaysia, the Philippines, Indonesia, India, and Fiji will aim to reach agreements on remaining issues within Pillar 1 (Trade), Pillar 3 (Clean Economy), and Pillar 4 (Fair Economy) to achieve results within the year. Our government will participate in the negotiations by forming a delegation led by No Geon-gi, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, along with representatives from about 20 ministries.

Director-General No stated, "If outcomes are achieved through IPEF, trade conditions will improve by enhancing regulatory transparency in the region, and a fair environment will be established, including expanded market access for our companies in the Indo-Pacific region related to clean energy, as well as increased tax transparency." He added, "We will do our best to achieve the greatest possible results."

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