The nation’s representative to the US Shen Lyu-shun (沈呂巡) has expressed confidence in the nation’s bid to join the proposed US-led Trans-Pacific Partnership (TPP), based on Taiwan’s levels of trade and economic strength.
Taiwan is among the top 10 of the US’ 224 trade and economic partners, Shen said in a speech at the 40th annual convention of the Chinese American Academic and Professional Society in New York on Saturday.
He also said that Taiwan purchased products worth US$13 billion from the US last year, while China’s procurements from the US totaled US$56 billion. The latter figure might be 4.35 times that of the former, but China is 256 times the size of Taiwan geographically and in terms of population, China is 58 times larger, Shen said.
Regarding the prospects for Taiwan’s TPP bid, Shen said: “We have confidence,” adding that senior US officials have said many times they would welcome Taiwan joining the regional economic bloc should it be established.
Taiwan has continued to improve its trade and economic conditions so that they meet the requirements for being part of the TPP, Shen said.
“The degree of our liberalization has been very high,” Shen said.
Many academics and experts expect China to be the biggest barrier to the nation joining the TPP and Shen said that China would be the one to decide whether Taiwan’s TPP bid is successful.
However, he said that Taiwan’s joining the economic bloc would be beneficial to Beijing, as there are now many Taiwanese businesses operating in China.
“The mainland is not so great that it can block us every step of the way, telling you not to go somewhere or not to join some organizations. In many cases it is not that competent,” Shen said.
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