Japan expects launch of U.S. Indo-Pacific economic plan during Biden visit

US President Joe Biden's visit to Japan this month is expected to coincide with the formal launch of a new U.S. economic strategy for the Indo-Pacific, even as China seeks "very aggressively" to fill a void since Washington quit a regional trade pact, Tokyo's ambassador to the United States said on Monday, Trend reports citing Reuters.

Ambassador Koji Tomita told an event hosted by Washington's Center for Strategic and International Studies that Japan and the United States had been working on the details of the Indo-Pacific Economic Framework (IPEF), which, he said, needed to strike a balance between inclusivity and high standards.

Asian countries are keen to boost ties with the United States, but have been frustrated by its delay in detailing plans for economic engagement with the region since former President Donald Trump quit a regional trade pact in 2017. read more

Biden, who is to visit South Korea and Japan from May 20 to May 24, announced the plan for IPEF last year. In announcing its strategy for the Indo-Pacific region in February, the administration said the plan was to launch IPEF in early 2022.

Tomita said Biden's visit would send a powerful signal that Washington remains focused on the Indo-Pacific in spite of the war in Ukraine.

Source: TREND News Agency