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Taiwan's liberalization recognized by CPTPP members: minister

2018/11/16 17:42:27

Port Moresby, Nov. 16 (CNA) Taiwan's open economy and liberal trade and investment system has been positively recognized by members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the country's top trade negotiator said Friday.

Taiwan has been trying to join the regional economic bloc since its formation in March by 11 signatory economies -- Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam -- many of which are major trading partners of Taiwan.

Taiwanese delegates used the annual Asia-Pacific Economic Cooperation (APEC) ministers meeting in Papua New Guinea as a rare chance to lobby for Taiwan's CPTPP bid by holding meetings on the sidelines of the APEC forum with representatives of several CPTPP members.

After being briefed on Taiwan's preparations to join the regional economic bloc, including its efforts to revise outdated regulations, the CPTPP member-state representatives voiced approval of Taiwan's related systems, Taiwan's Minister without Portfolio John Deng (鄧振中) said after the end of the APEC ministers meeting.

"Taiwan's high degree of liberalization was recognized," said Deng, who also heads the Office of Trade Negotiations under the Executive Yuan.

The CPTPP, which grew out of the Trans-Pacific Partnership after the United States walked away from the pact in January 2017, represents a market of 500 million people and accounts for 13.5 percent of global trade.

Taiwan's trade with the regional bloc accounts for 25.25 percent of its total trade, according to government figures.

At the 30th APEC Ministers Meeting on Thursday, meanwhile, National Development Council Minister Chen Mei-ling (陳美伶) shared Taiwan's experiences in the development of digital technologies.

She said the application of digital technologies can offer governments new resolutions on challenging issues, such as providing high-quality health care services for people living in remote areas.

At a time when APEC countries face such threats as major outbreaks, chronic diseases and aging populations, digital medical care can be a sector where Taiwan can work with other member economies to deal with the problems, Chen said.

(By Liao Yu-yang, Pan Tze-yu and Elizabeth Hsu)