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Economic Daily News: Travel first mile toward TPP soon

Economic Daily News: Travel first mile toward TPP soon

Trade ministers from the 12 nations negotiating the Trans-Pacific Partnership (TPP) met in Hawaii from July 28-31 but failed to reach an agreement.
U.S. Trade Representative Michael Froman, however, said: "We have made significant progress during last week's meetings... We have advanced towards the conclusion."
The TPP negotiations are now 98 percent complete, and it should not be a problem to conclude the negotiations within this year. The remaining issues mainly involved the "big four" economies of the United States, Canada, Japan and Mexico.
Failure to seal the agreement has been seen as a setback for U.S. President Barack Obama as the talks in Hawaii were the last chance to get a deal in time to pass the U.S. Congress this year.
The development probably gives Taiwan something of a reprieve in its bid to join the trade bloc, but we can also see that Taiwan has not made enough effort in terms of liberalization, and many of its laws and regulations still fall far short of international standards. If Taiwan wants to join the TPP, it needs to take steps to further liberalize its trade and revise its laws to reach international standards.
If Taiwan was truly determined to join the TPP, many areas needing to be liberalized or revised should have gone beyond the preparation stage long ago and entered the implementation stage. If it continues to avoid these steps, Taiwan will not even have traveled its first mile toward joining the TPP by the time the TPP completes its last mile. (Editorial abstract -- Aug. 3, 2015) (By Y.F. Low)


Updated : 2021-09-20 00:47 GMT+08:00