Wed, Oct 07, 2015 - Page 3 News List

Government resolute on TPP participation: Cabinet

Staff writer, with CNA

Taiwan is resolved to win the endorsement of Trans-Pacific Partnership (TPP) member states to join the second round of negotiations and gain access to the free-trade agreement, a Cabinet spokesman said yesterday.

Taiwan welcomes the TPP, which is to create the biggest trade bloc in the Pan-Pacific region among 12 countries, Executive Yuan spokesperson Sun Lih-chyun (孫立群) said, citing Premier Mao Chi-kuo (毛治國) after Monday’s conclusion of TPP negotiations in Atlanta, Georgia, to lower trade barriers and enhance investment protection.

Sun said that since last year, the Executive Yuan has called nine special task force meetings to devise complementary measures and revise local laws and regulations in line with international norms, in an effort to show Taiwan’s resolve to join the TPP.

It is imperative that Taiwan, an export-oriented nation, gains access to the TPP, Sun said.

Taiwan’s participation in the trade pact would be tantamount to several economic cooperation agreements, securing an opportunity for fair competition and creating broader foreign trade horizons for the nation, he added.

When the TPP takes effect, its economic scale is expected to be about US$28 trillion, accounting for 36 percent of the world’s overall production value, according to the Executive Yuan.

It said the 12 TPP member states — Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam — are all important trade partners.

Taiwan’s shipments to the 12 countries last year totaled US$103 billion, making up one-third of its overall exports, the Executive Yuan said.

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