Recognizing the importance of maintaining their partnership into the future through a formalized and durable structure for ongoing economic cooperation at the ministerial level, the IPEF partners announced the substantial conclusion of the negotiations on the proposed Agreement on the Indo-Pacific Economic Framework for Prosperity to establish an IPEF Council and Joint Commission. The IPEF Council would consider matters affecting the collective operation of the agreements related to the four IPEF pillars, as well as considering the possibility of adding new members or new agreements. The Joint Commission would monitor work under the agreements negotiated under Pillars II-IV, with a view to identifying ways to reduce duplication and potential conflicts and enable work between or across those agreements. The IPEF Council and the Joint Commission would meet annually, with the goal for all ministerial meetings to be co-located and concurrent.

⇒ Read the IPEF Agreement on IPEF Final Text