MOFA urges Vietnam to process Taiwan's CPTPP application 'fairly'

Taipei, Nov. 11 (CNA) Taiwan has urged Vietnam to "fairly and effectively" process its application to join a major 12-member regional economic bloc, as the Southeast Asian country will be the bloc's chair in 2026.

Lien Yu-ping (連玉蘋), head of the Ministry of Foreign Affairs' (MOFA) Department of International Cooperation and Economic Affairs, made the appeal when asked about Taiwan's prospects to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Vietnam will serve as chair of the CPTPP council next year, and its responsibilities will include hosting commission meetings and handling administrative duties related to the accession process for potential new members.

Asked whether she was concerned that Vietnam, known for its close ties with China, could have a negative impact on Taiwan's hope for accession, Lien said Taiwan simply would like Vietnam to process Taiwan's application in a fair and timely manner.

Taiwan's accession to the CPTPP is expected to benefit Vietnam more than other CPTPP members, given that the two sides will get reciprocal tariff free treatment if Taiwan becomes a bloc member, Lien argued, noting that Taiwanese companies have a huge presence in Vietnam's supply chain.

The CPTPP is one of the biggest trade blocs in the world, representing around 15 percent of the global economy.

It currently has 12 members -- Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United Kingdom.

China applied to join the CPTPP on Sept. 16, 2021, roughly a week before Taiwan applied to join on Sept. 22 that same year.

Beijing, which regards Taiwan as part of its territory, has opposed Taiwan's accession to the CPTPP. This has led Taiwanese officials to worry that a successful bid by China could sink Taiwan's hopes of joining the bloc.

The requirements set by the CPTPP for new members include meeting the trade pact's high standards, demonstrating a strong track record of meeting trade obligations, and garnering a consensus among all members.