Taiwan trains sights on TPP participation

2015/10/08

Taiwan welcomes recent progress in Trans-Pacific Partnership negotiations and reaffirms its interest in joining the largest trade-liberalizing pact in the Asia-Pacific, according to the Cabinet Oct. 5.

“In order for Taiwan to take part in the second round of TPP negotiations, the Cabinet has convened nine interministerial meetings to review local laws and regulations for discrepancies with global standards,” Cabinet spokesman Sun Lih-chyun said.

“Several seminars have also been staged to address relevant bilateral trade issues and map out complementary measures, demonstrating Taiwan’s determination to meet the high standards of the TPP.”

Sun’s remarks follow the announcement of an agreement by trade ministers from the 12 TPP negotiating partners earlier the day in Atlanta.

Once the TPP comes into effect, the agreement is set to account for US$28 trillion, or roughly 36 percent of global output. Taiwan’s exports to TPP members reached US$103 billion in 2014, or roughly one-third of the country’s total outgoing shipments.

“TPP membership will ensure fair competition for local firms on the global playing field and that Taiwan is included in regional integration,” Sun said.

“We will continue seeking support from TPP members at international venues such as the Asia-Pacific Economic Cooperation forum and other bilateral talks.”

The Ministry of Foreign Affairs also voiced support for the development, stating that Taiwan’s commitment and preparedness for TPP accession are best illustrated by the successful implementation of the economic cooperation agreements with New Zealand and Singapore.

“The ministry is working with all agencies to promote the government’s achievement in trade liberalization,” a MOFA official said.

In a statement released Oct. 6, the American Chamber of Commerce in Taipei further urged “all major political parties to collaborate in paving the way for Taiwan’s participation.”

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=237489&ctNode=2194&mp=9)