Bur­nish can­di­dacy for TPP, says AmCham

The China Post - - FRONT PAGE -

The Amer­i­can Cham­ber of Com­merce in Taipei (AmCham Taipei) said Tues­day that it heartily wel­comes the news that af­ter some five years of ne­go­ti­a­tions, the 12 coun­tries of the U. S.- led Trans- Pa­cific Part­ner­ship (TPP) have come to a fi­nal agree­ment on the sub­stance of the trade pact.

Although the full de­tails of the agree­ment have not yet been made public — and while some po­lit­i­cal ob­sta­cles re­main be­fore the deal is rat­i­fied by the na­tional leg­is­la­tures of the coun­tries in­volved — the 12-party agree­ment rep­re­sents a ma­jor land­mark with a high level of­both eco­nomic and diplo­matic im­por­tance, AmCham Taipei said in as­tate­ment.

The TPP holds the prom­ise of rein­vig­o­rat­ing the in­ter­na­tional trade en­vi­ron­ment, and en­hanc­ing sta­bil­ity and pros­per­ity in the Asi­aPa­cific, ac­cord­ing to the cham­ber.

“For Tai­wan, TPP is of cru­cial sig­nif­i­cance. It is now vi­tal that this coun­try do ev­ery­thing pos­si­ble to bur­nish its can­di­dacy for in­clu­sion in the sec­ond round when the TPP is ready to ex­pand its mem­ber­ship in another

year or more,” AmCham Taipei said.

Lib­er­at­ing Tai­wan’s Trad­ing

“A trad­ing econ­omy such as Tai­wan’s can­not af­ford to be left out of such a crit­i­cal ini­tia­tive. Lib­er­al­iz­ing Tai­wan’s trad­ing and reg­u­la­tory regimes to meet the high stan­dards set by TPP is cer­tain to meet ob­jec­tions from par­tic­u­lar do­mes­tic in­ter­ests, but we are con­fi­dent that the over­all good of the so­ci­ety will pre­vail,” it added.

How­ever, as Tai­wan pre­pares for its TPP ac­ces­sion bid, a com­pli­cat­ing fac­tor will be the up­com­ing pres­i­den­tial and leg­isla­tive elec­tions, and the tran­si­tion next year — re­gard­less of which po­lit­i­cal party is vic­to­ri­ous — to a new gov­ern­ment ad­min­is­tra­tion and new Leg­is­la­ture, the cham­ber said.

AmCham Taipei urges all ma­jor po­lit­i­cal par­ties to col­lab­o­rate in paving the way for Tai­wan’s mem­ber­ship in the TPP be­cause when the fi­nal text of the agree­ment is re­leased in the com­ing weeks, work will need to be­gin in earnest in an­a­lyz­ing the con­di­tions Tai­wan will need to ful­fill in or­der to be­come a TPP sig­na­tory.

At that point, no time should be lost in start­ing to bring Tai­wan’s prac­tices and reg­u­la­tions in line with the TPP frame­work, AmCham Taipei noted.

Clear Need to Avoid Be­ing

Ex­cluded: AmCham

The cham­ber said that Tai­wan must match the de­ter­mi­na­tion to join the TPP of South Korea and other re­gional trade ri­vals or face the threat of be­ing ex­cluded from this high-po­ten­tial trade plat­form for years to come.

“The TPP gives Pres­i­dent Ma an op­por­tu­nity in the fi­nal months of his pres­i­dency to speak out forthrightly about Tai­wan’s fu­ture,” said AmCham Taipei.

“We sug­gest that he take ac­tion now to com­mit the Tai­wan gov­ern­ment to pur­sue TPP ac­ces­sion at the first op­por­tu­nity and to ed­u­cate the peo­ple of Tai­wan about the ur­gency and im­por­tance of Tai­wan’s par­tic­i­pa­tion in this new era of trans-Pa­cific trade,” the cham­ber con­cluded.

Founded in 1951, AmCham Taipei is a non-profit busi­ness or­ga­ni­za­tion ded­i­cated to pro­mot­ing the in­ter­ests of in­ter­na­tional busi­ness in Tai­wan. It has more than 1,000 mem­bers rep­re­sent­ing over 500 com­pa­nies and 26 com­mit­tees ad­vo­cat­ing var­i­ous in­dus­try in­ter­ests.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.