Ritika Pratap 
[Source: Ministry of Trade, Co-operatives, SMEs and Communications/ Facebook]
Permanent Secretary for Trade, Shaheen Ali was in Busan, South Korea to participate in the fourth negotiating round of the Indo-Pacific Economic Framework.
This was the continuation of negotiations that commenced last December on each of the four pillars of the Framework, covering Trade, Supply Chains, Clean, and Fair Economy.
On the Trade pillar, in-depth negotiations took place on Customs Administration and Trade Facilitation, Technical Assistance and Economic Cooperation, Agriculture, Digital Trade, Services Domestic Regulation, Good Regulatory Practices, Inclusivity and Labour Chapters.
The Clean Economy pillar continues its focus on balancing trade to address climate crisis by promoting decarbonisation, use of clean energy and climate resilient infrastructure.
The Fair Economy Pillar aims to prevent and combat corruption and related financial crimes, improve tax administration, and enhance cooperation and capacity building on these matters.
Prior to Busan, the IPEF Ministers had successfully concluded negotiations on Resilient Supply Chain, in May.
The first-of-its-kind international IPEF Supply Chain Agreement aims to increase the resilience, efficiency, productivity, sustainability, transparency, diversification, security, fairness, and inclusivity of their supply chains through both collaborative activities and individual actions taken by each IPEF partner.
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