Australia chosen to host major US-led forum in December aimed at challenging Chinese trade interests in the Pacific
Sky | 13 October 2022
Australia chosen to host major US-led forum in December aimed at challenging Chinese trade interests in the Pacific
by Annelise Nielsen
Sky News can reveal Australia has been selected to host the next round of the Indo-Pacific Economic Framework, a major initiative of the Biden Administration to counter Chinese influence in the Pacific.
Australia beat out multiple countries to host the next IPEF forum, with organisers planning for a December meeting from the member countries.
The first round was hosted in Los Angeles last September, including representatives from 14 countries including the US, Australia, Brunei, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.
US President Joe Biden announced the initiative in May of this year.
The Framework is intended to firm up trade relations between US allies, without going as far as negotiating a regional trade agreement. A formal agreement would likely require tariff exemptions and be seen as a more deliberate challenge to China’s own trade interests in the Pacific.
India has been a somewhat reluctant member of IPEF, pulling out of the key trade talks in Los Angeles.
The selection for Australia as the next forum is seen as a strong vote of confidence in Australia’s role in bolstering trade in the Pacific.
IPEF countries collectively represent 40 per cent of world GDP.
Sky News understands Malaysia will host the first forum of 2023, post Australia.
