Japan, citing ‘shared values’, welcomes Taiwan trade pact application By Reuters
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© Reuters. FILE PHOTO – Japanese foreign minister Toshimitsu Motegi met with Mohammad Javad Zarif, his Iranian counterpart (not pictured), in Tehran on August 22, 2021. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS/FilesTOKYO (Reuters) – Japanese Foreign Minister Toshimitsu Motegi said he welcomed Taiwan’s application to join a trans-Pacific trade pact this week, citing shared democratic values with the island, which China claims as its own.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership, (NYSE:) Taiwan was invited to apply on Wednesday. This agreement is being presided over by Japan less than a week following China.
Motegi said this week that Taiwan was a “very important partner” with whom he shares fundamental values like freedom, democracy and the rule of law. He spoke to reporters during his United Nations visit in New York.
Motegi stated that Taiwan’s trade application must be subject to the pact’s stringent standards. His comments were in stark contrast to Japanese officials’ more cautious reactions to China’s submission.
When asked about China’s prospects of joining the trade agreement, Taro Aso, Finance Minister, and deputy Prime Minister, expressed doubts last week. He cited strict rules regarding state-owned businesses.
Trans-Pacific Partnership, the original 12 member agreement was considered an economic counterweight against China’s increasing influence. China is opposed to Taiwan joining any formal treaty or organization as a sovereign country.
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