Premier Mao Chi-kuo has laid out the case for letting Taiwan join the Trans-Pacific Partnership (TPP) in an article published by US media outlet Politico.
The article was published online on Monday. Mao wrote that the conclusion of TPP negotiations in October will have a major impact on the economic situation in the Asia Pacific. Closer economic and trade ties in the region will help stable development, something in line with US interests.
Mao said that as an important link in the global supply chain, Taiwan should not be left out of the TPP. The article discusses the close strategic and trade links between the US and Taiwan. It also highlights Taiwan’s expanding trade with the twelve countries involved in TPP negotiations.
Taiwan is the United States’ tenth largest trading partner and Taiwan’s trade volume with TPP negotiating parties has reached US$200 billion a year. Mao said Taiwan’s exclusion from the TPP will be a loss to the entire Asia-Pacific supply chain.
Mao also explained the government’s efforts to attract foreign investment and make Taiwan more business-friendly. Concrete measures include lowering income taxes and opening up further to Chinese investment.
Mao said Taiwan is speeding up preparations for TPP membership. The government is working to bring Taiwan’s trade regime in line with TPP standards.
Mao said Taiwan’s inclusion in the TPP will be beneficial not only for Taiwan but also for the US and the region.