Taiwan could enter TPP following launch: MOEA
The Ministry of Economic Affairs (MOEA) yesterday said the most optimal time for Taiwan to become a potential member of second-round entry into the U.S.led Trans-Pacific Partnership (TPP) would be after the launch of the partnership, which is estimated to happen by the end of next year.
During a meeting with the Executive Yuan’s International Economy and Trade Strategy Committee that also addressed the progress of the TPP and the Regional Comprehensive Economic Partnership (RCEP), Vice Premier Simon Chang ( ) implored the MOEA to continue to monitor and collect opinions regarding the TPP from the nation’s overseas offices. Chang also encouraged officials to provide programs that would help to communicate the partnership positively to the general public.
In a statement, the MOEA said that according to research, the U.S. Trade Promotion Authority Act (TPA) would be likely launched in July this year, with the TPP likely to pass in August.
Following the passing of both regulations, all member-nations of the TPP will begin to complete all legal processes domestically so that the partnership will be officially implemented by the end of next year.
The MOEA went on to say that following the official launch of the TPP, the time would be most beneficial for Taiwan to apply to become a second-round entry member to the partnership.
Currently, the nation ought to lobby for the support from accepted members of the TPP to prepare for a more persuasive argument during Taiwan’s partnership application by showing the world that the country is ready and willing step up and become a global nation.
On the topic of the execution of the Agreement between Singapore and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Partnership (ASTEP), the MOEA said that the ASTEP is the first economic cooperation agreement between Taiwan and a Southeast Asian country, and is also an important step to connect Taiwan with the rest of the world.
The Executive Yuan said the current idea of free trade agreements has already advanced to become different from the traditional local understanding. As such, the Executive Yuan has tasked all related agencies to conduct surveys to better understand the impact and acceptance the general public has of partnerships such as the TPP and ASTEP.