Taiwan deserves a place in the Trans-Pacific Partnership and its membership will benefit the country and all TPP negotiating partners, according to ROC Representative to the U.S. Shen Lyu-shun.
Over the past 40 years, Taiwan has transformed from an exporter of agricultural products to a major player in the global high-tech supply chain, Shen said. Its exclusion from regional integration is detrimental to the interests of Taiwan, the U.S. and all TPP negotiating partners, he added.
Shen made the remarks during the opening of the conference 35 Years Later: Assessing the Effectiveness of the Taiwan Relations Act May 12 in Washington.
Co-organized by the Brookings Institution and Center for Strategic and International Studies, the event featured keynote speakers and panelists including Raymond Burghardt, chairman of the American Institute in Taiwan, and Richard Bush, director of the Brookings Institution Center for East Asia Policy Studies.
According to Shen, the latest U.S. Census Bureau statistics show Taiwan to be the 11th largest trading partner of the U.S. after Brazil and ahead of the Netherlands. Taiwan is also a bigger economy than two-thirds of all EU states.
Taiwan will be the fifth largest TPP economy if it joins the regional trade bloc now, and will be the eighth largest if grouping expands to include all economies of the Pacific Rim, he added.
Shen said the unique nature of cross-strait relations is another reason why Taiwan should be included in the TPP.
Evaluating the situation across the Taiwan Strait on the basis of the European model, Shen said integration is a better word to describe the current state of Taipei-Beijing relations, with economic, social and cultural integration moving rapidly in recent years to the benefit of people on both sides.
Through careful management and U.S. support, this process has helped Taipei confidently engage Beijing from a position of strength.
Citing official statistics, Shen said Taiwan has outpaced Hong Kong to have the most originating external flights to mainland China. And as a result of continuously expanding cross-strait exchanges, Taiwan is mainland China’s largest single external source of investment and offers unparalleled knowledge on and influence over the world’s No. 2 economy.
Given the rise of mainland China, Shen said Taiwan is probably the best gateway to the other side of the strait and will be a great asset for the U.S. in its pivot to Asia.
Shen said he hopes to see the good coordination and cooperation under the TRA continue creating a win-win-win situation for the benefit for Taiwan, the U.S. and mainland China. (SFC-JSM)
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