Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
Budget 2023
Budget 2023
you are here: HomeNewsBusiness

US says new Indo-Pacific economic framework not typical trade deal

In a teleconference call during a visit to Malaysia, commerce secretary Gina said discussions on the framework are in preliminary stages, but could involve several key areas including the digital economy, supply chain resiliency, infrastructure, export control, and clean energy.

November 18, 2021 / 04:39 PM IST
Image: Reuters

Image: Reuters

The United States' planned Indo-Pacific economic framework will be inclusive and flexible, and will not be structured like a typical free trade deal, its commerce secretary Gina Raimondo said on Thursday.

In a teleconference call during a visit to Malaysia, Raimondo said discussions on the framework are in preliminary stages, but could involve several key areas including the digital economy, supply chain resiliency, infrastructure, export control, and clean energy.

"We absolutely do not envision this to be a traditional trade agreement, absolutely do not envision it to require Congress to be involved," she said, adding that the U.S. will develop the framework with allies in the months to come.

On Wednesday, Raimondo said an Indo-Pacific economic framework could be launched at the start of next year, and her Asia visit was to lay the groundwork for potential partnerships.