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Published Date: 2020-11-18
The economics
minister plans to meet with representatives from seven major industries that
could be hit by the establishment of the Regional Comprehensive Economic
Partnership (RCEP) on Sunday.
The RCEP is now
the world's largest free trade agreement, consisting of China, Japan, South
Korea, Australia, New Zealand, and the ten members of the Association of Southeast
Asian Nations.
There is concern
that Taiwan's exclusion from the RCEP will affect its competitiveness.
Economics Minister Wang Mei-hua says that the agreement won't have too much of
an impact on Taiwanese businesses. However, she plans to meet this Sunday with
representatives from Taiwan’s steel, hand tools, machinery, textile,
petrochemical, automobile and motorcycle, and flat panel display industries.
Wang said these
industries could be affected by tariffs. The government will also hold further
meetings with representatives from other industries that could suffer with the
partnership's establishment.
Wang says that the
RCEP did not allow new members to join during the process of negotiations.
Every member also has to agree for a new member to enter. She said that if
China does not require that Taiwan recognize the one China principle, Taiwan
will be happy to join.
She said that
Taiwan is now approaching members of the Comprehensive and Progressive
Agreement for Trans-Pacific Partnership for support. The partnership is another
trade agreement between Austrlia, Brunei, Canada, Chile, Japan, Malaysia,
Mexico, New Zealand, Peru, Singapore and Vietnam.