Region:
Asia
Category:
Economy

Taiwan is close to a deal with Europe and seeks to enter the TPP

Region:
Asia
Category:
Economy
Publication date:
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The Republic of China seeks to enter the future Trans-Pacific Strategic Agreement Economic Partnership (TPP), initiated by the United States

President Ma Ying-jeou expressed his desire to sign an economic cooperation agreement and a bilateral investment agreement between the European Union and the Republic of China (Taiwan).

Taiwanese President made this statement during an audience granted to former Foreign Minister of Italy Giulio Maria Terzi di Sant'Agata, at the Presidential Palace in Taipei City.

Ma said he has observed in a casual way that pork imported from France has been widely accepted by the Taiwanese consumers, and stated that the fact shows that pork European countries has great advantages to compete in the market Taiwan.

On the other hand, the pork from Europe has the advantage of being free of ractopamine, food additive used to promote the growth of pigs, especially their muscle mass. In Taiwan, it is forbidden the use of the chemical component.

While the Taiwanese are aware that the country imports industrial products from Europe, however, the signing of a bilateral economic cooperation and other bilateral pact investment will help solve business problems traditionally arising from the lack of information regarding both sides, said Ma.

The Republic of China is in the process of liberalizing its economy and has already signed agreements on economic cooperation with China, New Zealand and Singapore, revealed Ma; adding that after suspension in five years in 2013 resumed trade talks with the United States under the Framework Agreement for Trade and Investment signed by the two countries in 1994.

The Republic of China seeks to enter the future Trans-Pacific Strategic Agreement Economic Partnership (TPP), initiated by the United States; and the proposed Comprehensive Regional (RCEP) Economic Partnership, in order to participate more actively in regional economic integration.

Currently, the TPP is being negotiated between the United States and 11 other countries of the Pacific Rim: Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and Japan. On the other hand, the RCEP is being negotiated among the ten member countries of the Association of Southeast Asian Nations and six main partners, namely: Mainland China, Japan, India, Australia, South Korea and New Zealand.

Two years ago, the European Parliament adopted a resolution urging the European Union to sign an agreement on economic cooperation and bilateral trade agreements with Taiwan; with the aim to further strengthen economic and trade relations between the two parties, Ma said.

source: http://taiwantoday.tw/