Developing Public-Private Partnerships to Support the Goals of the IndoPacific Economic Framework (IPEF)
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As officials gather in Los Angeles for the IPEF ministerial this week, ALI releases its newest report, Developing Public-Private Partnerships to Support the Goals of the IndoPacific Economic Framework (IPEF). Given that IPEF is a new type of trade agreement, which doesn’t include tariff concessions, the report examines how using U.S. government capacity-building resources to create public-private partnerships (PPPs) with American companies and civil society could provide incentives for IPEF member countries. Launching a robust PPP initiative as part of IPEF would both demonstrate U.S. regional leadership and incentivize member countries to advance IPEF’s goals.
A program which galvanizes U.S. investment in the region will also be an important counterpart to China’s presence in the region. While the U.S. will never match China’s funding dollar for dollar, it can work with IPEF partners to create different terms and standards for Indo-Pacific investment as concerns grow over China’s abusive lending terms, corrosive capital, and environmental standards. The U.S. emphasis on creating resilient supply chains, advancing digitization, increasing decarbonization, and raising labor and environmental standards will spur growth, while enhancing U.S. leadership in the region. It will also strengthen U.S. national security and boost the economic future of our workers and businesses.
The report starts by recommending the creation of an IPEF Partnership Program entity, examines capacity-building funding available in U.S. government agencies, and highlights examples of PPP projects which could be replicated in the IPEF countries.
