Gov’t taps IPEF vs graft

The country seeks to leverage the Indo-Pacific Economic Framework for Prosperity (IPEF) to ramp up anti-corruption measures following the signing of the Fair Economy Agreement in Singapore.

Trade and Industry Secretary Alfredo Pascual said the Philippines would seek the technical assistance of IPEF member countries in implementing measures to combat corruption, particularly on bribery.

Pascual stated that he stressed the importance of such cooperation in improving transparency and predictability in the business environment across the Indo-Pacific region through the newly signed agreement.

“It is important for the Philippines that the IPEF Agreements can empower partner countries and boost their value propositions as key trade allies and prime locations for strategic, sustainable, and inclusive investments — including by providing access to mechanisms for technical assistance, capacity-building and other collaborative activities such as best practices and information-sharing, support for infrastructure modernization, workforce and project development, public-private partnerships, and collaboration with the academia,” Pascual said during the IPEF ministerial meeting on 6 June.

He also highlighted the clean economy pact, which will provide a framework that is tailored to address the needs and gaps of IPEF partners in the transition to clean economies.