News from Japan
September 24, 2024 17:06 (Japan time)
WASHINGTON, Sept. 23 (Jiji Press) — The U.S. Department of Commerce announced on the 23rd that the Clean Economy and Fair Economy agreements under the Indo-Pacific Prosperity Economic Framework Agreement will come into effect on October 11 and 12, respectively.
A clean economy, which aims to achieve decarbonization, and a fair economy, which aims to prevent corruption and tax evasion, are two of the four pillars of IPEF, a U.S.-led initiative with 14 member countries, including Japan and Australia.
Several Member States, including the United States, have completed their domestic procedures for the Clean Economy Agreement, and Japan has also completed its procedures for the Clean Economy Agreement.
Of the remaining two pillars, the supply chain agreement has already come into force, and with the entry into force of the clean and fair economy agreement, the IPEF initiative will be fully launched as a framework for economic cooperation to counter China’s hegemonic moves.
The ministry said the 14 member countries held an online ministerial meeting on Monday to review the status of each country’s procedures and discuss concrete measures such as decarbonization projects to be promoted in the region and technical assistance to combat corruption.
(Copyright: Jiji Press)
Jiji Press
