“As close trading partners with key positions in the international supply chain, Taiwan and TPP members play important roles in promoting regional and global prosperity,” MOFA said in a statement.
“Taiwan is highly committed to taking part in the second round of TPP negotiations, and urges the 12 participating economies to support the country’s bid in order to create a win-win situation for all parties,” MOFA said. “Excluding Taiwan from the pact would be a major loss to both the TPP members and regional industrial chain.”
MOFA’s comments came following the TPP Leaders’ Statement issued by the negotiating members Nov. 18 in Manila on the sidelines of the Asia-Pacific Economic Cooperation summit.
According to the ministry, other than the multilateral negotiations under the framework of the World Trade Organization, economic integration in the Asia-Pacific region is widely seen as a major development in global trade and investment liberalization.
“TPP membership is of great significance to Taiwan given the local economy’s high dependence on foreign trade, which was equivalent to 111 percent of the country’s gross domestic product last year,” MOFA said.
In preparation for participation in regional trade blocs, Taiwan concluded economic cooperation agreements with New Zealand and Singapore in 2013, with the highly successful implementation results serving as testaments to the nation’s capability to meet the TPP’s high standards.
“The government is continuing its efforts to address the discrepancies between Taiwan’s trade laws and international standards, with relevant agencies mapping out measures in response to the official text of the pact released Nov. 5 by the parties.”
In the process, MOFA said the government will spare no effort in concluding bilateral economic cooperation agreements with TPP members in order to expand Taiwan’s presence in the international trade arena. (SFC-CM)
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