Economics minister John Deng says that Taiwan is continuing to work towards joining the Trans-Pacific Partnership (TPP).
At the legislature on Wednesday, Deng said that the economics ministry has kept a close watch on the TPP as it has taken shape. He said that the government has spent the past two to three years working to ensure that Taiwan meets TPP membership criteria. He also said that the government has been working to liberalize Taiwan’s markets.
Deng spoke about the possible timing of Taiwan’s accession to the TPP. "It’s not easy to figure out the timing, but if this window of opportunity comes, the window will not be too large," said Deng. "The important point is that we need to be prepared and see when the 12 countries can accept the next round of [membership] applications."
Taiwan has close trade ties with many TPP members. Deng said that joining the TPP would be akin to signing FTAs with a number of existing trade partners. According to Deng, TPP membership would see reduces tariffs on Taiwanese goods and the opening up of Taiwan’s service sector.