Taiwan to woo backers at APEC for bid to join Pacific trade pact -Breaking
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© Reuters. FILE PHOTO – The Taipei 101 Building is visible in the Taipei skyline on February 9, 2009. REUTERS/Nicky LohTAIPEI, Reuters – Taiwan will ask for support in its bid to become a trans-Pacific trading pact member at a meeting of Asia-Pacific economic leaders next week. President Tsai Ing-wen announced Tuesday.
China has applied for membership to the pact as well. It has intensified military activity near Taiwan, which Beijing claimed and is not opposed to joining.
In September, China and Taiwan both applied to be a part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Next week, APEC’s Asia-Pacific trade group, made up of the United States and China, will hold a virtual meeting to plan a course for recovery from the COVID-19 epidemic.
Tsai stated that he wanted to request Chang, envoy to APEC, to utilize this meeting in order to rally support from more APEC countries for Taiwan to join CPTPP. Tsai spoke to reporters referring specifically to Morris Chang (chip giant TSMC founder).
“Envoy Chang will convey Taiwan’s support for and insist on free trade.”
Chang stated that during the event, he would make a six-minute presentation to highlight Taiwan’s qualifications to CPTPP’s very high standards and Taiwan’s contribution to major pan-Pacific trade pacts. Chang did not provide any further details.
CPTPP’s membership is the latest tension between Beijing and Taipei. This is despite Taiwan’s claims that Taiwan is independent.
In September’s interview with Reuters, Taiwan’s Economy Minister questioned China’s readiness to sign the Pacific trade pact. She cited the restrictive practices of China’s second-largest economic country and feared “obstruction by Beijing”.
Taiwan is a large semiconductor producer and member of both the World Trade Organization (WTO) grouping.
In recent weeks, tensions between Taiwanese and Chinese have escalated as Beijing exerts more military pressure. These include repeated Chinese warplane attacks on Taiwan’s air defense zone.
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