The signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership March 8 in Chile is a milestone in Asia-Pacific economic integration and welcomed by Taiwan, according to the Ministry of Foreign Affairs.
 
Taiwan is ready and willing to participate in the multilateral platform, the MOFA said, adding that the country’s inclusion would deliver significant benefits to the 11-strong CPTPP membership and boost regional economic integration.
 
It is hoped domestic ratification of the CPTPP can be completed by all members as soon as possible with a view to expanding the agreement to include countries like Taiwan, the MOFA said.
 
The wide-ranging trade deal is a revised version of the TPP from which the U.S. withdrew in January 2017. Its members include some of Taiwan’s top trading partners such as Japan, Malaysia, Singapore and Vietnam.
 
The MOFA said it is expected new additions to the CPTPP will be made going forward as the membership looks to further promote trade relations in the most dynamic region of the global economy.
 
President Tsai Ing-wen and Premier Lai Ching-te have directed all relevant ministries and agencies to spare no effort in preparing Taiwan for CPTPP accession, the MOFA said, adding that the ministry will seize every opportunity to advance the country’s cause in this regard. (KH-E)