MOSCOW (Pakistan Point News / Sputnik - 27th May, 2022) Oceania's Fiji has joined the newly created Indo-Pacific Economic Framework for Prosperity (IPEF) launched by US President Joe Biden with a view to tackling global inflation and containing China's economic influence, US National Security Advisor Jake Sullivan said.
"President Biden welcomes Fiji's decision to join the Indo-Pacific Economic Framework for Prosperity (IPEF) as a founding member, the 14th nation and first in the Pacific Islands to do so. IPEF now reflects the full regional diversity of the Indo-Pacific," Sullivan said in a statement released on Thursday.
The US security adviser also expressed his belief that Fiji would add a vitally important perspective to IPEF, including on efforts to fight the climate change and establish a green economy.
"The United States thanks (Fijian) Prime Minister (Frank) Bainimarama, and we look forward to deepening our partnership for the benefit of our countries, the Pacific Islands, and the Indo-Pacific," the statement added.
Biden launched IPEF together with 12 Indo-Pacific countries during his visit to Tokyo on Monday. The initiative is aimed at increasing cooperation between the Indo-Pacific nations and delivering benefits for the people of the region. Washington regards the initiative as a model for addressing contemporary challenges, ranging from setting rules of the digital economy to ensuring sustainable supply chains.