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Published Date: 2021-09-27
Taiwan’s
agriculture industry could receive a boost worth NT$50 billion (US$1.8 billion)
if Taiwan joins the CPTPP. That’s the word from Agriculture Minister Chen
Chi-chung on Monday.
The CPTPP is a
free trade agreement joining a total of 11 countries, including Japan, Canada
and Australia. Taiwan submitted a formal application to enter the free trade
agreement last Wednesday, less than a week after China did the same.
Minister Chen says
he expects Taiwan’s agricultural industry to grow by NT$50 billion in five
years if Taiwan joins the CPTPP. Chen says this is just a preliminary estimate,
and he expects that value will grow in the future.
Economic Affairs
Minister Wang Mei-hua says some industries could suffer in the short term if
Taiwan joins the free trade area. However, she says the long term costs of not
joining the CPTPP are far greater.
The two ministers
also addressed the topic of imports from Japan. Taiwan banned the import of
food products from five Japanese prefectures from fear of radioactive
contamination following the Fukushima Daiichi nuclear disaster in 2011.
Ministers Chen and
Wang say Taiwan will have to face the question of whether to resume imports
during negotiations to join the CPTPP. They say the government will consider
potential health impacts, the available scientific evidence and international
standards when resolving the issue.