WASHINGTON, June 3 (Reuters) - The U.S.-led Indo-Pacific
Economic Framework is holding a ministerial meeting this week in
Singapore, including major firms joining a "Clean Economy"
investor forum to boost infrastructure and climate investments
across the region.
It marks the first in-person IPEF ministerial session since
the substantial conclusion of negotiations for the IPEF Clean
Economy Agreement and the Fair Economy Agreement in November in
San Francisco.
U.S. Commerce Secretary Gina Raimondo said the countries
plan to outline steps under each of the agreements this week.
"We're going to finalize all of those agreements at the
ministerial," Raimondo said. Additional announcements are
expected on a supply chain agreement, she said.
The IPEF Clean Economy Investor Forum includes 22 major U.S.
companies such as Amazon.com's ( AMZN ) AWS Bechtel, Alphabet's
Google, Microsoft ( MSFT ), BlackRock ( BLK ),
Bechtel, Citi, Goldman Sachs ( GS ), JPMorgan ( JPM ),
Morgan Stanley ( MS ) and KKR. Raimondo said there also
will be major Australian and Japanese investors at the forum.
"Government-to-government agreements are great," Raimondo
said. "But honestly it's time to implement - put some points on
the board. ... We hope to start doing deals and making
investments in the clean economy in the IPEF countries."
Raimondo said each country has submitted their top clean
economy projects "and then we're going to have matchmaking
sessions at the investor forum." Raimondo said the projects
include renewable energy generation such as solar and wind,
energy transmission and other infrastructure, transportation and
mobility projects.
She said she hopes in the coming months the forum will lead
to multibillion-dollar investments in places such as Thailand
and Malaysia.
"They're looking to attract investment to their
climate-related infrastructure," Raimondo said. "These countries
want to hit their own climate goals and build up their own
infrastructure, but they need capital and that's what we're
going to bring to the equation."
The "Fair Economy" agreement is aimed at fighting corruption
and tax evasion. Countries this week are expected to detail
anti-corruption pledges and tax transparency measures.
"It enables all the rest of this thing to work," Raimondo
added.
Countries participating in IPEF are Australia, Brunei, Fiji,
India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the
Philippines, Singapore, Thailand, Vietnam and the United States.