IPEF settles talks on supply chain coordination: Fourteen countries included in the Indo-pacific economic framework (IPEF) — the US’ new trade pact initiative for the region — have reached an agreement on supply chain collaboration, Bloomberg reports. The US initiative comes as a response to China’s growing influence as well as to compensate for withdrawing from previous efforts to set regional trade regulations. The IPEF supply chain agreement includes a “response network” to provide emergency communications on supply chains and the creation of a labor rights advisory board, US Commerce Secretary Gina Raimondo told Bloomberg.

ALSO WORTH KNOWING-

  • Malaysia is pushing forward with a fourth terminal at Port Klang on Carey Island comprising both container and conventional berths capable of handling 30 mn TEU and 20 mn tons of conventional cargo. (Seatrade Maritime News)
  • Iran is calling for Asian Clearing Union member states to move away from using the greenback in global trade. (Tasnim News Agency)
  • France has banned short-haul flights — public internal flights between French destinations — to reduce its environmental footprint. (Statement)
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