U.S. restates economic commitment to Indo-Pacific at APEC

The United States has an enduring commitment to the Indo-Pacific and there is "no better economic partner for this region" than Washington, Vice President Kamala Harris said Friday at an Asia-Pacific Economic Cooperation event in Bangkok.

Harris, who is in Thailand for an annual summit of the forum's 21 Pacific Rim economies in place of President Joe Biden, said in her speech at the APEC CEO summit that Washington will "continue to uphold and strengthen international economic rules," adding it is essential to "protect nations from economic coercion."

Her comments came as China has drawn fire for its trade sanctions on countries with which its ties have deteriorated.

Relations between China and Australia deteriorated after Canberra called for an independent investigation into the origins of the coronavirus pandemic. China responded by placing a diplomatic freeze on all high-level meetings and imposed a number of trade sanctions on Australian barley, wine and coal exports.

Harris also stressed the significance of the U.S.-led Indo-Pacific Economic Framework, a new economic cooperation model launched in May, saying it will "strengthen our economic footprint in the long-term."

The framework, which currently has 14 members, represents 40 percent of global gross domestic product and is aimed at reaching concrete agreements on fair trade, resilient supply chains, clean energy and fighting corruption, Harris said.

She also pitched to regional business leaders the Partnership for Global Infrastructure and Investment, a project launched earlier this year by the Group of Seven industrialized nations to counter China's Belt and Road Initiative.

"With the G-7, we intend to mobilize $600 billion in infrastructure investment in the developing world that will be high-standard, transparent, climate-friendly, and does not leave countries with insurmountable debt," Harris said, criticizing China's "debt-trap diplomacy" policy.

The world's second-largest economy has been slammed for using debt as leverage to gain concessions from borrowing nations.

"The United States is here to stay. Strengthening our economic relationships in the region and partnering with the private sector is a top priority for the United States, and a bipartisan one," Harris said.

© Kyodo News