Taiwan has initiated talks to join the 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It is in the process of informal consultations with member nations, some of whom may be apprehensive of signing trade deals with Taiwan, which has long been by Beijing to be part of its own territory.
However, late on Sunday, Taiwan’s Foreign Ministry expressed positivity and hope and said that, according to the processes of the CPTPP, new member applicants could only formally apply after completing informal talks with existing members and reaching a consensus. “Once the informal consultation with all member states is completed, we will formally submit an application for membership in accordance with the procedures,” the ministry said. It also further elaborated that member states clearly understood Taiwan’s determination to seek membership and that their attitude was positive.
The CPTPP is a newly transformed version of the Trans-Pacific Partnership (TPP), which was initially led by the Obama administration, and abandoned by President Trump in 2017. Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam form the current agreement and more countries have expressed interest in wanting to join the trade bloc.
Recently, South Korea, another Southeast Asian neighbour, expressed interest in joining the CPTPP. On December 8, South Korean President Moon Jae-in hinted at the possibility of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to aid the country’s economic recovery. This announcement came a month after South Korea signed the Regional Comprehensive Economic Partnership (RCEP), which is the world’s biggest free-trade bloc and led by China.
Taiwan, which is a member of the World Trade Organization, has sought to gain increased freedom by seeking to join multilateral deals. It was prevented from joining the RCEP due to Beijing’s vast influence over the bloc. Taipei and Beijing’s relationship has been hostile due to territorial issues resulting from the “one country, two systems” solution offered by Beijing. Under this system, Taiwan was promised significant autonomy if it accepted Chinese reunification. The offer was rejected by Taiwan, but the government did relax rules on visits to and investment in China. In 1991, the war with mainland China was declared over but bilateral relations have continued to be volatile.
After China, too, indicated that it may look to join the CPTPP, it is unclear whether or not Taiwan will now be able to join, given that the other member-states may be wary of upsetting China by indirectly recognising Taiwan’s independence.
Taiwan Begins Official Process of Joining CPTPP
Taiwan is in discussions to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Some members are concerned that the move will affect their relationship with China.
December 14, 2020
SOURCE: THE ECONOMIST