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CEPD minister reiterates importance of TIFA

CEPD Minister Yiin Chii-ming believes that resuming TIFA talks is a prerequisite for concluding a free trade agreement between Taiwan and the U.S. (CNA)

• Publication Date：06/12/2012
• Source： Taiwan Today
• By  Meg Chang

Clearing hurdles impeding talks under the Taiwan-U.S. Trade and Investment Framework Agreement is a top priority for the ROC government, according to the Council for Economic Planning and Development June 11.

“The U.S. is Taiwan’s second largest export market, accounting for 12 percent of the island’s shipments,” CEPD Minister Yiin Chii-ming said. “It is imperative the two countries continue TIFA talks and work toward creating the necessary conditions for a free trade agreement.”

Echoing Yiin’s remarks, Deputy Minister of Economic Affairs Francis Kuo-hsin Liang said restarting TIFA talks will assist Taiwan in its bid for inclusion in regional trade agreements.

“For example, the U.S.-South Korea FTA, which took effect in March, is set to impact US$3.4 billion of Taiwan exports covering such sectors as chemicals, machinery, plastics and textiles,” Liang added.

“Taiwan must resume TIFA talks with the U.S. as it is key to maintaining the island’s global economic competitiveness and fast-tracking its bid for membership of the Trans-Pacific Partnership.”
The TPP is a proposed trade agreement comprising negotiating partners Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, Vietnam and the U.S. Three other nations, Japan, Mexico and South Korea, are also seeking to join discussions on the nascent pact.

According to the CEPD, the TIFA was signed in September 1994 with the last round of negotiations in July 2007. Talks were set to restart in late 2010 or early 2011 but ran into difficulties largely as result of the ROC government’s refusal to accept U.S. beef imports containing leanness enhancers such as ractopamine. (JSM)

Write to Meg Chang at sfchang@mail.mofa.gov.tw