Minister of Economic Affairs Chang Chia-juch (張家祝) yesterday dismissed concerns that China could block Taiwan’s entry to the US-led Trans Pacific Partnership (TPP) because China is not a member of the nascent trading bloc.
The assessment was one of reasons the government has decided to “prioritize joining the TPP” over the Regional Comprehensive Economic Partnership (RCEP), a China-led free-trade agreement for the Asia-Pacific region, he said.
Despite prioritizing the TPP, the government still hopes to participate in both pacts, Chang told a press conference at the Executive Yuan last night following the first meeting of the international economy and trade strategy task force established by President Ma Ying-jeou (馬英九).
“We do not base the prospects of our entry into the TPP on the position China holds,” Chang said.
If politics is to be a factor in Taiwan’s pursuit of regional economic integration, then it needs to be taken into consideration, he said.
“Politics play a less important role in the TPP than in the RCEP,” he said.
Furthermore, issues related to cross-strait normalization, a yet-to-be-signed agreement on goods, the service trade agreement that is awaiting legislative approval, and other important agreements laid out in the 2010 Economic Cooperation Framework Agreement could all complicate Taiwan’s prospects of joining the RCEP, he said.
Although standards and degree of liberalization required for TPP membership are much higher than those needed for the RCEP, it would be easier for Taiwan to join the TPP “as long as we can comply with the economic rules being negotiated,” Chang said.
This is the first time the government has said the TPP is a higher priority than the RCEP.
At the meeting at the Presidential Office to discuss strategies to speed up Taiwan’s inclusion in regional economic programs, Ma reaffirmed the timetable set out by Premier Jiang Yi-huah (江宜樺) that by the end of July government agencies complete an assessment of the gap between domestic laws and regulations and those agreed upon as part of the TPP, Chang said.
Diplomatic and economic officials stationed in the TPP’s 12 founding countries will soon be asked to brief the government on issues of concern arising from the ongoing negotiations, he said.
Taiwan is scheduled to present a formal plan in July to the 12 countries on how it intends to respond to the issues of concern and the requests made during TPP negotiations, Chang said.
Ma said the Presidential Office would supervise the task force, and that he will receive reports on preparatory work for TPP and RCEP entry every two to three months.
“We assure the public that the government is sparing no effort as it works toward the nation’s inclusion the regional economic integration process,” he said in the closed-door meeting.
The task force was formed after Ma promised in his New Yea’s Day address to revive the economy.
The government also invited former vice president Vincent Siew (蕭萬長) to head a committee made up of business groups, academics and economic experts to push economic liberalization.
Ma defended Siew’s reputation for financial and economic expertise and dismissed reports that there was concern about a lack of talent in his administration.
The non-government committee will serve as a communication channel between the government and the private sector, he said.
“When he stepped down in 2012, vice president Siew said he was willing to work for Taiwan’s economy, and he has worked tirelessly to solicit foreign investment and marketing Taiwan’s economic strength,” Ma said.
This story has been amended since it was first published.
SECURITY: As China is ‘reshaping’ Hong Kong’s population, Taiwan must raise the eligibility threshold for applications from Hong Kongers, Chiu Chui-cheng said When Hong Kong and Macau citizens apply for residency in Taiwan, it would be under a new category that includes a “national security observation period,” Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said yesterday. President William Lai (賴清德) on March 13 announced 17 strategies to counter China’s aggression toward Taiwan, including incorporating national security considerations into the review process for residency applications from Hong Kong and Macau citizens. The situation in Hong Kong is constantly changing, Chiu said to media yesterday on the sidelines of the Taipei Technology Run hosted by the Taipei Neihu Technology Park Development Association. With
CARROT AND STICK: While unrelenting in its military threats, China attracted nearly 40,000 Taiwanese to over 400 business events last year Nearly 40,000 Taiwanese last year joined industry events in China, such as conferences and trade fairs, supported by the Chinese government, a study showed yesterday, as Beijing ramps up a charm offensive toward Taipei alongside military pressure. China has long taken a carrot-and-stick approach to Taiwan, threatening it with the prospect of military action while reaching out to those it believes are amenable to Beijing’s point of view. Taiwanese security officials are wary of what they see as Beijing’s influence campaigns to sway public opinion after Taipei and Beijing gradually resumed travel links halted by the COVID-19 pandemic, but the scale of
A US Marine Corps regiment equipped with Naval Strike Missiles (NSM) is set to participate in the upcoming Balikatan 25 exercise in the Luzon Strait, marking the system’s first-ever deployment in the Philippines. US and Philippine officials have separately confirmed that the Navy Marine Expeditionary Ship Interdiction System (NMESIS) — the mobile launch platform for the Naval Strike Missile — would take part in the joint exercise. The missiles are being deployed to “a strategic first island chain chokepoint” in the waters between Taiwan proper and the Philippines, US-based Naval News reported. “The Luzon Strait and Bashi Channel represent a critical access
Pope Francis is be laid to rest on Saturday after lying in state for three days in St Peter’s Basilica, where the faithful are expected to flock to pay their respects to history’s first Latin American pontiff. The cardinals met yesterday in the Vatican’s synod hall to chart the next steps before a conclave begins to choose Francis’ successor, as condolences poured in from around the world. According to current norms, the conclave must begin between May 5 and 10. The cardinals set the funeral for Saturday at 10am in St Peter’s Square, to be celebrated by the dean of the College