Indo-Pacific Economic Framework ministers gather in LA for talks

Ministers from 14 nations, including Japan, the United States and India, are gathering in Los Angeles for their first in-person talks on Thursday under a new initiative for the Indo-Pacific.

Washington proposed the Indo-Pacific Economic Framework for Prosperity, or IPEF, amid China's growing influence in the region.

NHK obtained a draft joint statement that will be delivered at the two-day meeting.

One of the four pillars of the discussions is supply chain resilience of key items, including semiconductors.

Russia's invasion of Ukraine and the coronavirus pandemic have underscored the vulnerability of supply chains in times of emergency.
Participants are to discuss how to shape a framework that will prepare for a situation in which supplies of semiconductors, resources and food items come to a halt.

Under the scheme, member nations are to each set up a coordinator that will share information on which countries are suffering shortages of specific supplies.

The remaining pillars include discussions on high-standard trade rules, including the use of digital technology.

Participants aim to compile a statement on each pillar with the aim to officially declare the start of negotiations.