Taiwan seeks to join CPTPP at APEC meeting

2024/05/22

Taiwan is committed to implementing stricter trade standards to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership while urging the Asia-Pacific Economic Cooperation member economies to address the issue of unfair trade competition, according to Minister without Portfolio Yang Jen-ni.
 
Yang made the remarks at the APEC Ministers Responsible for Trade Meeting held May 17-18 in Arequipa, Peru.
 
According to the Executive Yuan, Yang proposed that the APEC’s economic integration initiatives must comprise regulations for environment, labor and state-owned businesses to combat trade distortions caused by non-market economies violating fair competition. Such action will also allow the envisaged Free Trade Area of the Asia Pacific to play a role in investment promotion as well as enhancing the region’s well-being, the EY added.
 
Delegation members led by Yang also expressed hopes that Taiwan’s bid to join the CPTPP start procedures as soon as possible, adding that the country wants to work with its counterparts to strengthen regional economic resilience and advance prosperity and stability in the Asia-Pacific.
 
In addition, the group said that when formulating trade policies the Taiwan government takes into consideration the opinions of Indigenous people, women and small and medium enterprises (SMEs), which is in line with this year’s theme of “Empower, Include, Grow.” The three groups are assisted to participate in global trade via information and communications technology and Taiwan is willing to share experience in narrowing the digital gap between social groups with fellow economies.
 
Since joining APEC in 1991, Taiwan has made substantial contributions in areas such as disaster prevention, food security, ICT, SME development, and women’s economic empowerment.


Source:  Taiwan Today (https://taiwantoday.tw/index.php)