Taiwan Applies To Join Pacific Trade Pact CPTPP
Taiwan has formally applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the official Central News Agency said on Wednesday, less than a week after Communist China said it too had submitted an application.
Economy Minister Wang Mei-hua will give details on Thursday, the agency quoted Deputy Economy Minister Chen Chern-chyi as saying.
It gave no other details and there was no immediate comment from the Economy Ministry.
Wang last week expressed concern about China’s “sudden” decision to apply to join it, and said she hoped it did not affect the island’s own application.
Taiwan has already been discussing the issue informally with the bloc’s existing members.
The original 12-member agreement, known as the Trans-Pacific Partnership, was seen as an important economic counterweight to China’s growing influence.
But the TPP was thrown into limbo in early 2017 when then-U.S. President Donald Trump pulled the United States out of the pact.
The grouping, which was renamed the CPTPP, currently links Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.