Singapore’s Prime Minister, Lee Hsien Loong, underscores commitment to the Indo-Pacific Economic Framework for Prosperity during the IPEF Leaders’ Meeting in San Francisco.
Singapore’s Prime Minister, Lee Hsien Loong, participated in the Indo-Pacific Economic Framework for Prosperity (IPEF) Leaders’ Meeting held on November 16, 2023, during his working visit to San Francisco, California, United States of America, from November 13 to 18, 2023. The meeting, a significant milestone in the Indo-Pacific region’s economic cooperation, was attended by world leaders, including President Biden.
In his intervention, PM Lee expressed gratitude for President Biden’s invitation and commended the IPEF’s forward-looking and positive agenda. The platform signifies the United States’ ongoing commitment to engaging with its Asian partners and strengthening regional ties. Emphasizing a commitment to an open, inclusive, and rules-based order, PM Lee welcomed innovative agreements on supply chain resilience, clean economy, and the fair economy, foreseeing positive impacts on trade and investment environments.
PM Lee highlighted the centrality of the Trade pillar within the IPEF agreement and its significance in the US’ economic and strategic engagement in the region. Acknowledging the complexities of developing new trade policies, he anticipated further progress in negotiations and tangible cooperation in the coming year.
Singapore, honored to contribute to shaping the IPEF, pledged continued collaboration with partners to implement the agreements and initiatives. Additionally, Singapore will host the inaugural IPEF Clean Economy Investor Forum in the first half of 2024, focusing on matching capital to climate-critical projects for decarbonization and transitioning to net-zero economies. This initiative complements the IPEF Climate Fund and IPEF Catalytic Capital Fund established by President Biden.
PM Lee advocated for the IPEF to remain open, inclusive, and flexible, welcoming new members. He called for sustained commitment from all partners to deliver tangible benefits, fostering high ambition, new ideas, and strong people-to-people ties. The objective is to drive regional economic integration and usher in a new era of partnership.
Source – PMO
