Taiwan trade negotiations office planned by Tsai

2016/03/01

A plan to set up a dedicated office under the Cabinet to handle Taiwan’s international trade negotiations was announced Feb. 24 by ROC President-elect Tsai Ing-wen.

The initiative aims to spur Taiwan economic innovation and industrial upgrades by facilitating the country’s accession to regional trade initiatives like the Trans-Pacific Partnership. It dovetails with the chairwoman of the Democratic Progressive Party’s Southbound Policy announced last September.

Originating from the Go South Policy of ex-President Lee Teng-hui launched in 1993, the version proposed by Tsai seeks to strengthen Taiwan’s economic and cultural ties with members of the Association of Southeast Asian Nations and India.

“It is imperative for Taiwan to implement economic reforms and align itself with the global community,” Tsai said, citing structural changes heralded by such TPP issues as market opening, policy transparency, regulatory coordination and tariff concessions.

“The office will build on the efforts of a TPP task force established last year to open communication channels and start preparations,” she said. “We intend to build a solid foundation for Taiwan’s sustainable development in the years ahead.”

Proposed by the U.S. in 2008, the TPP agreement was formally concluded by its 12 founding members Feb. 4 in New Zealand. These economies account for 36 percent of global gross domestic product, and Taiwan’s exports to these countries accounted for roughly one-third of its total exports in 2014.

The ROC government has been working to participate in the second round of the trade bloc’s negotiations. A TPP Communication Projects Office was inaugurated last month with the mission of keeping the public abreast of the latest bid developments and canvassing input from domestic stakeholders on related government policies.

Minister of Economic Affairs Deng Chen-chung highlighted the importance of reaching a consensus in society on the TPP as membership will have a wide-ranging impact on Taiwan.

“Inclusion in the TPP will promote investment by member states in Taiwan while enabling local firms to better position themselves in the global industry supply chain.

“Equally important is the task of continuing to bring local laws and regulations in line with international practices, especially those pertaining to e-commerce, environmental protection and labor rights,” Deng said.

“Taiwan stands ready to engage in talks on relevant issues with all participating TPP members.”

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=242551&ctNode=2194&mp=9)