US President Joe Biden announced today, Monday, at a joint press conference with Japanese Prime Minister Fumio Kishida, the launch of the new Asia-Pacific economic partnership that includes 13 countries.
“We are launching an economic framework that aims to work with our partners in the Indo-Pacific region to ensure competitiveness in the 21st century,” the US president said.
According to Agence France-Presse, China will not participate in the association, as it is suspiciously looking at this project.
The agency noted that the Indo-Pacific Economic Framework is not a free trade agreement, but it provides further integration to member states in four key areas: the digital economy, supply chains, clean energy infrastructure and fighting corruption.
The new US initiative was presented as an attempt to replace the current Trans-Pacific Partnership, which Washington withdrew under Donald Trump’s presidency.
It should be noted that the US president arrived in Japan on Sunday as part of an Asian tour, aimed at strengthening the US role in Asia.
Source: RIA Novosti + AFP
Source: Arabic RT
