The Philippines expressed its intention to seek technical assistance in implementing the commitments made under the Indo-Pacific Economic Framework for Prosperity (IPEF) under the UN Convention Against Corruption, particularly on bribery.
At the IPEF Ministerial Meeting in Singapore last week, Secretary Alfredo Pascual of the Department of Trade and Industry welcomed the landmark signing of three key agreements——the Overarching Agreement on the IPEF, the Clean Economy Agreement, and the Fair Economy Agreement.
On the last agreement, Pascual stressed the importance of cooperation in improving transparency and predictability in the business environment across the Indo-Pacific region.
Pascual highlighted the need for collective action in addressing common global challenges such as anti-corruption mechanisms and clean energy transition.
On the Clean Economy Agreement, Pascual said the agreement will provide a framework that is tailored to address the needs and gaps of IPEF partners in the transition to clean economies.
Pascual also commended the progress in the existing work on hydrogen and carbon markets, the ongoing discussions on clean electricity, just transition, and sustainable aviation, as well as the recent proposals on embedded emissions accounting, e-waste urban mining, and small modular reactors.
With the implementation of the Supply Chain Agreement which was signed last year, Pascual sees the IPEF partners will be able to achieve their goals of improving supply chain transparency, addressing supply chain crises and vulnerabilities, enhancing the role of workers, and promoting labor rights.
