IPEF members power ahead on supply chain agreement, three new bodies likely

The 14-nation Indo-Pacific Economic Framework for Prosperity has made significant progress in the negotiations on the proposed supply chain agreement, according to the commerce and industry ministry. The agreement seeks to improve the resilience, productivity, transparency, and security of the supply chains through collaborative activities and individual measures taken by each partner. The IPEF aims to establish three new supply chain bodies to promote and cooperate with sustainable trade and investment including the establishment of labour rights advisory boards. The IPEF member countries will prepare a final text for the proposed supply chain agreement before ratification, acceptance or approval.

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