Thailand participated in the virtual ministerial meeting of the Indo-Pacific Economic Framework (IPEF)

On June 30, 2023, Ms. Phantipha Iamsudha Ekarohit, Deputy Permanent Secretary for External Affairs, on behalf of the Deputy Prime Minister and Minister of Foreign Affairs of Thailand, attended the Indo-Pacific Economic Framework Virtual Ministerial Meeting (IPEF).

The Meeting was chaired by the Secretary of Commerce of the United States, Gina Raimondo. The meeting was also attended by representatives of relevant Thai agencies, namely the Ministry of Industry, Ministry of Natural Resources and Environment, Ministry of Finance and the Office of the National Anti-Corruption Commission.

The meeting discussed ways of advancing IPEF cooperation, particularly within the framework of Pillar III (Clean Economy) and Pillar IV (Fair Economy). At the meeting, views were exchanged on possible cooperation projects that would bring tangible benefits for Pillar III, such as the US Government’s proposal for USD 300 million in funding for sustainable infrastructure projects in partner countries. of IPEF, plans to host an Investor Forum to enhance investment opportunities, the possibility of creating a Climate Fund, and fostering innovation through knowledge sharing, capacity building, and academic partnerships.

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They also discussed the establishment of a Capacity Development Framework under Pillar IV as a mechanism to provide technical assistance among IPEF partner countries.

On this occasion, the Deputy Permanent Secretary highlighted the importance of public-private collaboration within the framework of Pillar III to promote investment and the development of the clean economy and green technologies.

At the meeting, points of view were exchanged on possible cooperation projects that would bring tangible benefits.

Regarding Pillar IV, Secretary Ekarohit prioritized cooperation on tax matters and the fight against corruption, in line with international standards, in order to promote a fairer economy, supporting a capacity building framework driven by the demand for the effective application of the respective obligations of each partner country under existing international instruments.