ITI says it welcomes the Biden Administration’s strategy for deepening U.S. engagement in the Indo-Pacific, including through the development of an Indo-Pacific Economic Framework (IPEF). In its recently released 2022 Action Plan, ITI urged the administration to develop digital trade commitments as part of its Indo-Pacific engagement, echoing its blog published in January and letter sent to U.S. Trade Representative Tai in September.
“We welcome the Biden Administration’s plan for engaging partners in the Indo-Pacific,” said ITI’s President and CEO Jason Oxman. “We are particularly encouraged by efforts to craft an Economic Framework that develops strong trade rules in support of open cross-border data flows and diverse, open, and resilient supply chains. Advancing digital trade rules in the region will stimulate U.S. economic growth, strengthen U.S. relationships with Indo-Pacific allies and partners, and defend against rising digital protectionism and authoritarianism. We urge the administration to continue to work with valuable trade partners in the region to address existing and emerging barriers to market access, including data localization policies and tariffs on technology products. We hope the president and his team seize this opportunity and advance a robust digital trade agenda for this pivotal region. ITI stands ready to serve as a resource and partner in those discussions.”
The majority of internet users today are in the Indo-Pacific region, and that number is expected to increase to 3.1 billion by 2023. This presents tremendous market opportunities for U.S. companies to scale and expand abroad, creating more employment at home and strengthening U.S. competitiveness, underscoring the need for digital trade engagement in the region.
You can read the full 2022 Action Plan here.