New Delhi, June 11 (UNI) The Indo-Pacific Economic Framework, that was inaugurated in Tokyo last month by US President Joe Biden and Prime Minister Narendra Modi, along with other Indo-Pacific leaders, is a transformative new vision for economies and companies throughout the region, that will ensure that open and rules-based markets will continue to sustain a rising wave of prosperity in the Indo-Pacific, US Embassy Chargè D’Affaires Patricia Lacina has said.
The Indo-Pacific Economic Forum was launched on the sidelines of the Quad Summit in Tokyo last month by the US and 12 other nations, including India. It rests on four pillars: trade, supply chains, infrastructure, clean energy and decarbonisation and tax and anti-corruption.
In her address on Friday evening celebrating the 246th American Independence Day, she said “Along with our Quad partners the United States and India will collaborate closely in the Indo-Pacific Partnership for Maritime Domain Awareness (IPMDA) which will make a vital contribution to the peace, stability, and prosperity so important to the greater good of the Indo-Pacific community.”
She said during the Tokyo meeting between President Biden and PM Modi, the two leaders “renewed our countries’ commitment to a bilateral relationship rooted in a shared tradition of democracy and equal opportunity for all citizens”.
“United in this shared vision, we are tackling some of the world’s most pressing challenges together. From fighting the climate crisis, to leading the global pandemic response, to advancing a free and open Indo-Pacific, the United States and India are collaborating across nearly every field of endeavor to improve the lives of our peoples and contribute to the global good. “
She said the US-India partnership at 75 demonstrates how vital the bilateral cooperation has been “in realizing a more prosperous, free, connected, and secure world, and how much potential there is for our partnership to grow further.”
“But our relationship far transcends our government-to-government engagement. The deep bonds between our peoples are the sinew that binds us together. From Silicon Valley to Bengaluru, Hyderabad to Boston, and Mumbai to New York, our companies, students, entrepreneurs and civil society grow ever more closely linked to the great benefit of bout our countries. There is no more compelling example of these bonds than the way in which India’s own independence movement inspired Dr. Martin Luther King and the U.S. civil rights movement,” she added.
She added that bilateral trade is growing every year and has reached a new high of $156 billion, supporting tens of thousands of jobs in both our countries.