In May 2022, negotiations on a framework agreement were launched among 13 APEC partners, resulting in substantial progress in record time. Consensus was reached on three pillars of the framework, including a supply chain agreement to prevent disruptions. The agreement aims to mobilize private investment, drive a race to the top on standards, and welcome other nations to join the vision for a stronger economy. The framework demonstrates a shared commitment to an open, inclusive, and rules-based order that is stable and prosperous, with agreements on supply chain resilience, clean economy, and fair economy enhancing trade and investment environments.
What is the main goal of the framework agreement?
The main goal is to create a stable and prosperous open, inclusive, and rules-based order.
How will the agreement enhance trade and investment environments?
The agreement includes provisions for supply chain resilience, clean economy, and fair economy.
What progress has been made on trade agreements?
Progress on trade agreements is also welcomed.
Which countries are involved in the framework agreement?
Thirteen APEC partners are involved in the agreement.
What is the timeline for the implementation of the framework agreement?
The timeline for implementation has not been specified yet.
In May 2022, negotiations on a framework agreement were launched among 13 APEC partners, resulting in substantial progress in record time. Consensus was reached on three pillars of the framework, including a supply chain agreement to prevent disruptions. The agreement aims to mobilize private investment, drive a race to the top on standards, and welcome other nations to join the vision for a stronger economy. The framework demonstrates a shared commitment to an open, inclusive, and rules-based order that is stable and prosperous, with agreements on supply chain resilience, clean economy, and fair economy enhancing trade and investment environments.
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