The Fair Trade Commission is close to completing a draft of competition rules as Taiwan looks toward joining the US-led Trans-Pacific Partnership (TPP).
The commission on Tuesday wrapped up a two-day forum on competition policy and law. The forum was attended by Frederic Jenny, head of the Competition Committee of the Organisation for Economic Cooperation and Development (OECD).
Chair of the Fair Trade Commission Wu Shiow-ming said that it was important as Taiwan seeks membership of the TPP for there to be clear rules on fair competition. This includes avoiding protectionism while also ensuring that international cartels are not able to dominate.
The spirit and effectiveness of the TPP will take a big hit in the case that Taiwan’s market is full of restrictions on competition or if there is unfair competition. So we hope for there to be freedom of trade between countries, and that we are able to trade freely in your market and that there is a proper environment for fair competition.
Wu said Taiwan’s fair trade rules should be in line with TPP standards.
The government has stated its goal to seek membership of the TPP, the strategic trade agreement between the United States and Pacific Rim countries.