TRADE DEALS/Taiwan to push to join CPTPP at APEC annual meeting

Lima, Peru, Nov. 10 (CNA) Taiwan's top trade negotiator Yang Jen-ni (楊珍妮) said on Sunday that the nation would push to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) during the annual Asia-Pacific Economic Cooperation (APEC) meeting in Lima.

Yang, who is part of the Taiwanese delegation, told reporters on the sidelines of the APEC Peru 2024 meeting that the event is a great opportunity for Taiwan to pitch to join the CPTPP and demonstrate its high standards in terms of trade.

Yang said Taiwan is fully prepared to work with the CPTPP's members in pursuing a green economy, inclusive growth and digital economic transformation.

Yang said Taiwan will strengthen exchanges in industrial development, technologies and talent with CPTPP members as it paves the way to join the trade bloc.

The CPTPP, which evolved from the Trans-Pacific Partnership that the United States left in January 2017, is one of the world's biggest trade blocs. It represents a market of 500 million people and accounts for 13.5 percent of global trade.

Its 11 signatories are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

The United Kingdom formally signed the trade agreement on July 16, 2023. The British government expects its agreement to join the CPTPP will enter into force by Dec. 15.

Taiwan officially applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on Sept. 22, 2021, less than a week after China also applied for membership. Ecuador, Costa Rica, Uruguay and Ukraine have also applied to join the trade bloc.

According to the CPTPP's Auckland Principles, the trade bloc is open to accession by any economy that is willing and able to meet the CPTPP's high standards, has a demonstrated history of compliance with their existing trade commitments and can achieve the consensus of CPTPP parties.

Yang said Taiwan will likely face uncertainty in its trade relationship with the U.S., given Donald Trump, whose rhetoric implies he opposes global trade, won the U.S. election on Nov. 5.

Yang's office told CNA earlier this month that Taiwan and the U.S. have been in close communication over the first agreement in the "U.S.-Taiwan Initiative on 21st-Century Trade." It was signed by both sides in June 2023.

In addition to official exchanges at the APEC meeting, the Taiwanese delegation included Acer Inc. Chairman Jason Chen (陳俊聖), Taiwan Mobile Co. Jamie Lin (林之晨) and Quanta Computer Inc. Chief Technology Officer Ted Chang (張嘉淵), who shared their views on the global economic situation.

In Taipei, Lin Hsin-i (林信義), Taiwan's envoy to APEC, is scheduled to depart for Lima on Wednesday to attend the leaders' summit on Nov. 14.

Lin, who will represent President Lai Ching-te (賴清德) at the summit, said at a news conference on Nov. 7 that he will express Taiwan's willingness to contribute to peace in the Asia-Pacific and demonstrate the country is a reliable and responsible member of the international community.

Lin previously attended three APEC meetings: Brunei in 2000, China in 2001, and South Korea in 2005, during the Democratic Progressive Party administration of President Chen Shui-bian (陳水扁).

Lin, chairman of Taiwania Capital Management Corp. and a senior presidential advisor, served as economic affairs minister between 2000 and 2002 and vice premier between 2002 and 2004.

Taiwan joined APEC in 1991 under the name "Chinese Taipei." However, China has blocked the nation's presidents from attending the leaders' summit.

This year's meeting in Lima is following the theme "Empower, Include, Grow."