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A top American business advocacy group has said that it is working to support plans to promote a free, open, and prosperous Indo-Pacific region. During an ongoing meeting with stakeholders of the Indo-Pacific Economic Framework (IPEF), the US India Business Council (USIBC) also focused on building resilient supply chains for the biopharmaceutical sector as well as for critical minerals essential to the energy transition, a media release here said. The framework is being hosted by the Indian Ministry of Commerce and Industry in Delhi from February 8 to 11. On Thursday, the USIBC said that it is working to support plans to promote a free, open, and prosperous Indo-Pacific region. The Indo-Pacific is a biogeographic region, comprising the Indian Ocean and the western and central Pacific Ocean, including the South China Sea. The US, India and several other world powers have been talking about the need to ensure a free, open and thriving Indo-Pacific in the backdrop of China's rising .
The US is outlining its goals for a new trade deal with Australia, Japan, South Korea and nine other nations meant to signal the country's commitment to working with the Indo-Pacific region at a time of growing Chinese clout. The Office of the US Trade Representative on Friday released its negotiating objectives for the Indo-Pacific Economic Framework, a deal with the 12 nations launched in May. Among them, the US wants the Indo-Pacific countries to improve their labour and environmental standards and ensure their markets remain open to competition, while also taking steps to ease supply-chain backlogs at border crossings. After the Trump administration's clashes with US allies, Asian countries have welcomed America's reengagement in the region, which also comes at a time of considerable economic disruption arising from COVID-19 and Russia's invasion of Ukraine. But many were disappointed the framework doesn't lower tariffs or provide signatories with more access to the US market.
India and France on Wednesday agreed to set up an Indo-Pacific trilateral framework to roll out development projects, decided to expand strategic cooperation and vowed to work closely to deal with pressing global challenges such as food crisis triggered by the Ukraine war. After wide-ranging talks with her Indian counterpart S Jaishankar, French Foreign Minister Catherine Colonna described Russian attacks on Ukraine as waging a "devastating war of aggression" on the territory of a sovereign state and that France is determined to work with India addressing the "terrible consequences" of the war. Referring to the Indo-Pacific, she said many challenges have emerged because of China and both France and India share the same concerns "because we know the role that the Chinese are playing and we want to make sure there is no imbalance" in the region. India and France also decided to expand cooperation in the Indo-Pacific under separate trilaterals with Australia and the United Arab ...