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Published Date: 2021-09-23
Taiwan has
formally applied to join the Comprehensive and Progressive Agreement for
Trans-Pacific Partnership (CPTPP). Premier Su Tseng-chang said on Thursday that
the move is a major step towards regional economic integration.
The CPTPP is a
free-trade area joining eleven countries bordering the Pacific Ocean. They
include Japan, Australia, Canada, Singapore, and New Zealand, among others. The
UK and China have also applied to join the partnership.
The news of
Taiwan’s intent to join the partnership on Wednesday comes less than a week
after China submitted its application to join the CPTPP.
Taiwan’s top trade
negotiator, John Deng, says the timing of Taiwan’s bid to join the partnership
is unrelated to the recent application by China. However, Deng says that if
China joins the partnership before Taiwan, Taiwan’s bid to join could come
under threat.
Deng says Taiwan
decided to formally apply to join the CPTPP following repeated calls from
Taiwanese business associations. Japan is also the partnership’s chair this
year. Deng says this fact further encouraged Taiwan’s government to make an
application.