upsc -14 members IPEF
Indo-Pacific Economic Framework for Prosperity (IPEF) is an economic initiative launched by United States President Joe Biden on May 23, 2022.
IPEF has fourteen member states and represents 40% of world GDP.[2]
- Australia
- Brunei
- Fiji[7]
- India
- Indonesia
- Japan
- South Korea
- Malaysia
- New Zealand
- Philippines
- Singapore
- Thailand
- United States
- Vietnam
- The framework is structured around four pillars relating to Trade (Pillar I); Supply Chains (Pillar II); Clean Economy (Pillar III); and Fair Economy (Pillar IV).
- India opts out of IPEF’s trade pillar
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