Richard W. Spinrad, Ph.D. Under Secretary of Commerce for Oceans and Atmosphere & NOAA Administrator | Official Website
This week, the U.S. Department of Commerce held the first in-person meetings of the Indo-Pacific Economic Framework for Prosperity (IPEF) Agreement’s Supply Chain Council on Thursday, September 12, followed by the Crisis Response Network on Friday, September 13.
The IPEF Supply Chain Council meeting, chaired by the United States, included representatives from all IPEF member countries: Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the United States, and Vietnam. Building on momentum from a virtual meeting in July, the Council adopted a first-year work plan and established two Subcommittees: one on Logistics and Movement of Goods and another on Data and Analytics. The Council also set up three Action Plan teams focusing on semiconductors, chemicals, and critical minerals with an emphasis on batteries. Additionally, an Action Plan team on healthcare is expected to be established soon. These topics were identified based on critical sectors and key goods formally recognized by IPEF Parties for cooperation under the IPEF Supply Chain Agreement.
“The IPEF Supply Chain Council plays a pivotal role in strengthening the resilience and security of supply chains across the Indo-Pacific region,” said Secretary of Commerce Gina Raimondo. “By working together, we are not only addressing vulnerabilities but also creating new opportunities for sustainable economic growth and prosperity.”
Following this meeting of the IPEF Supply Chain Council was a session of the Crisis Response Network (CRN), chaired by the Republic of Korea. The CRN focuses on addressing immediate supply chain disruptions. During this meeting, members conducted an emergency simulation exercise involving a supply chain disruption affecting certain chemicals used by IPEF countries.
“The United States was honored to host these historic meetings,” said Assistant Secretary of Commerce for Industry and Analysis Grant T. Harris. “The meetings of the IPEF Supply Chain Council and Crisis Response Network allowed us to map out strategic and tactical next steps for both bodies to advance the resilience and security of our regional supply chains.”
The U.S. Department of Commerce remains committed to actively engaging in Action Plan teams and Subcommittees as collaborative efforts continue to develop actionable policies aimed at enhancing supply chain resilience across the IPEF region. The next Supply Chain Council meeting is scheduled for December 2024.
About IPEF:
In May 2022, President Biden launched IPEF with 14 regional partners – Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea (South Korea), Malaysia, New Zealand (Aotearoa), Philippines (the Philippines), Singapore (Singapura), Thailand (Siam), United States (America), Vietnam (Viet Nam) – creating a new model for economic cooperation. Negotiations began in late 2022; by May 2023 substantial conclusions were reached regarding a first-of-its-kind Supply Chain Agreement. In November 2023 agreements concerning Clean Economy and Fair Economy were substantially concluded alongside an overarching agreement ensuring framework durability with a signing ceremony held in February 24th when it entered into force.
