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President Joe Biden on Monday promised “concrete benefits” for the people of the Indo-Pacific region from a new trade pact he was set to launch, designed to signal US dedication to the contested economic sphere and address the need for stability in commerce after disruptions caused by the pandemic and Russia’s invasion of Ukraine, Associated Press reported.

Meeting with Japanese Prime Minister Fumio Kishida, Biden said the new Indo-Pacific Economic Framework would also increase US cooperation with other nations in the region.

The White House said the framework will help the United States and Asian economies work more closely on issues including supply chains, digital trade, clean energy, worker protections and anticorruption efforts. The details still need to be negotiated among the member countries, making it difficult for the administration to say how this agreement would fulfill the promise of helping US workers and businesses while also meeting global needs.

Countries signing on to the framework were to be announced Monday during Biden’s visit to Tokyo for talks with Kishida. It’s the latest step by the Biden administration to try to preserve and broaden US influence in a region that until recently looked to be under the growing sway of China.

Kishida hosted a formal state welcome for Biden at Akasaka Palace, including a white-clad military honor guard and band in the front plaza. Reviewing the assembled troops, Biden placed his hand over his heart as he passed the American flag and bowed slightly as he passed the Japanese standard, according to Associated Press.

Kishida, in brief remarks, said he was “absolutely delighted” to welcome Biden to Tokyo on the first Asia trip of his presidency. Along with Biden, he drove a tough line against Russia over its invasion of Ukraine, saying it “undermines the foundation of global order.” 

Biden, who is in the midst of a five-day visit to South Korea and Japan, called the US.-Japanese alliance a “cornerstone of peace and prosperity in the Indo-Pacific” and thanked Japan for its “strong leadership” in standing up to Russia.

The White House announced plans to build the economic framework in October as a replacement for the Trans-Pacific Partnership, which the US dropped out of in 2017 under then-President Donald Trump. 

The new pact comes at a moment when the administration believes it has the edge in its competition with Beijing. Bloomberg Economics published a report last week projecting US GDP growth at about 2.8% in 2022 compared to 2% for China, which has been trying to contain the coronavirus through strict lockdowns while also dealing with a property bust. The slowdown has undermined assumptions that China would automatically supplant the US as the world’s leading economy.

“The fact that the United States will grow faster than China this year, for the first time since 1976, is a quite striking example of how countries in this region should be looking at the question of trends and trajectories,” said White House national security adviser Jake Sullivan, Associated Press reported.

Critics say the framework has gaping shortcomings. It doesn’t offer incentives to prospective partners by lowering tariffs or provide signatories with greater access to US markets. Those limitations may not make the US framework an attractive alternative to the Trans-Pacific Partnership, which still moved forward after the US bailed out. China, the largest trading partner for many in the region, is also seeking to join TPP.

“I think a lot of partners are going to look at that list and say: ‘That’s a good list of issues. I’m happy to be involved,’” said Matthew Goodman, a former director for international economics on the National Security Council during President Barack Obama’s administration. But he said they also may ask, “Are we going to get any tangible benefits out of participating in this framework?”

It is possible for countries to be part of both trade deals.

Biden’s first stop Monday was a private meeting with Emperor Naruhito of Japan at Naruhito’s residence on the lush grounds of the Imperial Palace before the talks with Kishida, Associated Press reported.

Independent mayoral candidate Balen Shah is leading by 18, 430 votes in Kathmandu Metropolitan City.

He secured 45, 613 votes as of 10:30 am today.

His closest contender Nepali Congress candidate Srijana Singh is trailing with 27, 183 votes.

Similarly, Keshav Sthapit of CPN-UML received 26, 309 votes.

In the deputy mayoral race UML's Sunita Dangol is leading by a huge margin. Rameshwar Shrestha of CPN (Unified Socialist) is lagging far behind.

Final vote counts of the recently held local level elections have been completed in 706 local units, out of 753, across the country.

According to the Election Commission, the local levels reporting the final vote count results make up 93.94 percent of the total numbers. The results tally puts the Nepali Congress in the topmost position followed by the CPN (UML) and the CPN (Maoist Center).

Counting is underway at some major local levels such as the Kathmandu, Lalitpur, Bharatpur, Pokhara and Birgunj metropolises and some others.

As the EC said, it is yet to take a final decision over the election disputes at Budhiganga municipality in Bajura and the Triyuga municipality-12 in Udaypur. It is yet to decide whether to go with the vote counting or hold re-election in the above mentioned places.

CPN-UML candidates have won both mayor and deputy mayor posts in Dakneshwori Municipality, Saptari.

Ram Lakhan Mahala has been elected as the mayor of the municipality by securing 5, 854 votes. His closest rival Narayan Yadav of Nepali Congress garnered 5, 396 votes.

Similarly, Mira Kumari Yadav has been elected as the deputy mayor. 

She received 6, 197 votes and her close competitor Indu Devi Yadav of Janata Samajbadi Party got 5, 209 votes.