Australia: Indo-Pacific Economic Framework for Prosperity launched

On 23 May 2022, US President Biden has announced the launch of the Indo-Pacific Economic Framework for Prosperity (IPEF). The IPEF initially include thirteen countries, Australia, Brunei, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the United States, and Vietnam. The IPEF is a general framework for cooperation on a number of issues, including the digital economy. Specifically, the IPEF intends to allow partner countries to work together on establishing standards for data transfer and data localisation.