Premier Mao Chi-kuo is calling on Canada to support Taiwan’s bid to join the Trans-Pacific Partnership (TPP). Mao wrote an article in the Vancouver Sun titled “Taiwan should be in trade pact”. It was published on Wednesday.
The premier said Taiwan is vigorously promoting trade liberalization in response to regional integration. It is also working with other Asia-Pacific Economic Cooperation members to push infrastructure programs. He said that close economic connections such as these are fundamental to maintaining peace and stability in the region. That’s why, he said, Taiwan must be included in the second round of negotiations to join the Trans-Pacific Partnership.
Mao said that over the past decade, Taiwan has tripled its trade volume with Asia-Pacific countries. Its trade volume with the 12 TPP members has reached $200 billion US a year. Taiwan is the world’s 27th-largest economy. TPP countries are important destinations for Taiwan’s foreign direct investment while Taiwan’s import market, worth nearly $300 billion US a year, is a lucrative target for TPP exporters. Mao said if Taiwan were excluded from the trade bloc, it would be a major loss for the entire Asia-Pacific supply chain.
He also said Taiwan is forging a nationwide consensus on the pact and addressing discrepancies between domestic trade regulations and international norms. In 2013, Taiwan signed landmark economic cooperation pacts with New Zealand and Singapore.
Taiwan is Canada’s 12th-largest trade partner and fifth-largest in Asia. Mao said that if Taiwan were to join the TPP, Canada’s automobile exports would increase by $106 million US, animal product exports by $99 million, and energy exports by $94 million.