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Ma Ying-jeou Taiwan is making efforts to integrate the TPP

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As member states of the TPP and RCEP together account for 70 percent of the export market of Taiwan, President Ma said primary task is to do everything in their power to engage in 2 blocks

President Ma Ying-jeou said that the Republic of China, being a nation whose economic growth depends on trade, should not miss the opportunity to participate in the Trans-Pacific Strategic Agreement (TPP acronym) Economic Association and the Association Regional economic comprehensive (RCEP, acronym).

The President made these comments in a speech during a meeting of the National Association of Small and Medium Enterprises of the Republic of China, held in Taipei.

President Ma also stressed that we must make every effort to achieve these objectives

Mentioning the fact that Taiwan has no diplomatic relations with most of its major trading partners, the President stressed that it is more difficult still to sign free trade agreements that do business with them.

Since taking office, Ma said, the ROC has signed four free trade agreements with five Central American countries; an agreement on cooperation in investment with Japan; and economic cooperation pacts with Singapore and New Zealand.

Furthermore, the Framework Agreement on Economic Cooperation between Taipei and Beijing has allowed Taiwanese companies enjoy preferential tariffs on goods exported to mainland China, said the president.

However, he continued the President, Republic of China is lagging behind compared to its competitors in the international market and the unfavorable position is increasingly obvious.

Given that the member states of the TPP and RCEP together account for 70 percent of the export market of Taiwan, President Ma reiterated that it is a primary task for the nation to do everything in its power to achieve participation in both trade blocs.

source: http://taiwantoday.tw/

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