Fumio Kishida. File photoTOKYO, May 21Japan welcomes participation in the US-led new economic format, the Indo-Pacific Economic Framework (IPEF), said Japanese Prime Minister Fumio Kishida.»We welcome the clear expression U.S. regional commitments. Japan is also positive about its participation in it,» Kishida told the Nikkei newspaper. purchase of Russian oil, media reported. The new US initiative is called an attempt to replace the existing Trans-Pacific Partnership, from which America withdrew under President Donald Trump. promote IPEF cooperation Japan will work closely with the United States to create an economic order that is favorable to the region and includes US President Joe Biden is scheduled to visit Japan on May 22-24, during which the launch of a new regional initiative, the Indo-Pacific Economic Framework (IPEF), will be announced. The United States sees it as a new economic arrangement for the 21st century, a model for meeting today's challenges, from setting the rules for the digital economy to ensuring sustainable supply chains.
