Creating Incentives to Join the IndoPacific Economic Framework
/
ALI is pleased to release its new report: Creating Incentives to Join the IndoPacific Economic Framework. The report details the incentives which should be offered to encourage a broad group of countries to join the IndoPacific Economic Framework.
The first step in advancing IPEF will be offering sufficient incentives to attract a broader group of countries to join the framework, especially the Fair and Resilient Trade Pillar. While the ASEAN countries welcome U.S. regional reengagement, the Trade Pillar’s digital, labor, and environmental standards will require heavy domestic concessions from them. If it is to attract countries beyond Australia, New Zealand, Japan, Singapore, and South Korea, IPEF must include strong incentives for them to make the necessary difficult domestic changes.
This paper offers other incentives to encourage less-developed countries in the region to join the framework, specifically the Trade Pillar. These inducements include addressing market barriers, preferred supplier initiatives, regulatory alignment, capacity building, private sector partnerships, and pillar integration.
