Press Release
☷Two Years of Indo Pacific Strategic Results Strengthening Indo Pacific Commerce for a Prosperous Future
U.S. Department of Commerce ( By Press Release office)
Feb 11,2024
| 10| 0
The United States Department of Commerce has been working alongside allies and partners to create a free and open Indo - Pacific region . This region , which spans from the U . S . Pacific Coast to the Indian Ocean and includes countries like Australia , Japan , and Singapore , is home to more than half of the world ' s population and two - thirds of the world ' s economy . Our strong trade relationship with the Indo - Pacific supports millions of jobs and brings in billions of dollars in foreign investment . Over the past two years , the Department of Commerce has made significant progress in promoting commerce and supply chain resilience in the region . We have opened new offices in countries like Bangladesh and Fiji to better support American companies seeking export opportunities . We have also led the negotiation of the Indo - Pacific Economic Framework for Prosperity , which involves 14 partner countries . In November 2023 , we signed a groundbreaking supply chain agreement to prevent disruptions . Our work in the Indo - Pacific is crucial for the prosperity and security of the United States . Advancing a Clean Economy – In 2023 , ITA conducted 154 export promotion programs worldwide to support the global adoption of U . S . clean technologies and the Administration’s clean energy goals . Clean Tech Strategic Projects Fund programs took place in Malaysia and Vietnam in 2023 , and three more events are planned for 2024 . A Clean EDGE trade mission is scheduled to visit India in March , and the 2022 Clean EDGE trade mission to Indonesia , Vietnam , and the Philippines resulted in significant deals related to SMRs , biofuels , and fuel cell technology . Reinforcing Deterrence: The Department ' s Bureau of Industry and Security ( BIS ) has been updating export controls on advanced semiconductor technology to limit the PRC ' s access to items with military applications , including artificial intelligence . BIS has also taken action against export control evasion to Russia , collaborated bilaterally with the export control authorities of several governments , including Japan and South Korea , and engaged partners through regional forums like the Southeast Asia Forum on Export Controls and the Asian Export Control Seminar . Driving Indo - Pacific Commercial Wins – Since 2022 , ITA has supported 18 , 998 U . S . companies across the Indo - Pacific region and IPEF markets , facilitating approximately $248 . 8 billion in U . S . exports and inward investment to the United States , which has created 792 , 000 U . S . jobs . Our Commercial Strategy – In the IPEF markets , the Department is collaborating with like - minded allies and partners , striving to protect U . S . interests and values , investing in our strengths domestically , and addressing complex challenges of the 21st Century global economy , such as supply chain security , climate change , cybersecurity , artificial intelligence , and economic coercion . We are conducting more than a dozen senior - level , bilateral commercial dialogues with IPEF partners like Australia , India , Japan , Korea , and Singapore to open up markets , align standards , and enhance the competitiveness of U . S . companies . They also announced that negotiations for proposed groundbreaking agreements on the Clean Economy , the Fair Economy , and an overarching IPEF Agreement are reaching a substantial conclusion . The first agreement would help seize commercial opportunities from clean economy transitions , while the second aims to improve business transparency , combat corruption , and enhance taxation efficiency . These outcomes highlight the effectiveness of this state - of - the - art model for long - term regional economic engagement , which will bring tangible benefits to the United States and its partners . Delivering on the Quad: Through the Quadrilateral Security Dialogue involving the United States , Australia , India , and Japan , Commerce will continue to enhance cooperation in critical technologies and clean energy . This includes advancing working groups focused on artificial intelligence , semiconductors , clean energy , mobile networks , and quantum information sciences . Supporting India’s Continued Rise and Regional Leadership: The Commerce Department , through Commerce Secretary Raimondo ' s efforts in the U . S . - India Commercial Dialogue and U . S . - India CEO Forum , is actively working towards shared goals in the Indo - Pacific region . Recent visits by Indian Prime Minister Modi to the United States and President Biden to India have further strengthened collaboration . In March 2023 , the Secretary visited New Delhi and signed MOUs with her Indian counterpart to elevate and expand the technology partnership between the two countries . Expanding U . S . - Japan - Republic of Korea Cooperation: Korea and Japan , as long - time allies and trade partners , play significant roles in industries such as semiconductors , advanced manufacturing , and electric vehicle manufacturing . The three countries aim to hold a trilateral meeting of Commerce and Industry Ministers in 2024 to further strengthen collaboration in key sectors of the future economy . Partnering to Build Resilience in the Pacific Islands: The Department has increased its engagement with Pacific Island Countries ( PIC ) , including leading a U . S . business delegation and organizing virtual trade promotion events . Strengthening an Empowered and Unified ASEAN: Working together with Singapore , ITA and the Department’s National Institute of Standards and Technology ( NIST ) have been promoting improved digital standards and cybersecurity in ASEAN to enhance business opportunities in Southeast Asia . The U . S . Patent and Trademark Office ( USPTO ) is also collaborating with ASEAN to enforce intellectual property rights . Additionally , the National Oceanic and Atmospheric Administration ( NOAA ) has expanded training programs for ASEAN countries to combat illegal fishing . In terms of supporting good governance and accountability , the USPTO has organized gatherings and partnerships to strengthen legal handling of intellectual property litigation . They have also provided assistance through the Commercial Law Development Program in areas such as clean energy projects , infrastructure procurement , mining governance , and data governance . The U . S . Census Bureau ' s data for the Indo - Pacific Region is providing essential information to policymakers and businesses . The Department is focused on supporting open , resilient , secure , and trustworthy technologies . They are expanding partnerships and initiatives with governments and companies in areas such as clean technology , defense , energy , and critical infrastructure . They are also working on international standards for artificial intelligence and digital policies . The NTIA has played a role in driving agreements on 5G frameworks and cybersecurity . The Department ' s cybersecurity trade mission has generated new commercial agreements for U . S . companies . Indo - Pacific Economic Framework , like , you know , tags and stuff .
PLAY the NEWS
* May be useful for visually impaired persons .
Press release information:
Direct link to press release:
Click here .