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Philippines columnist supports Taiwan’s participation in RCEP and TPP

Philippines columnist supports Taiwan’s participation in RCEP and TPP

Ernesto Hilario, a columnist for Business Mirror, which is the second largest business newspaper in the Philippines, wrote an article on Tuesday in support of Taiwan’s participation in the Regional Comprehensive Economic Partnership (RCEP) and the Trans-Pacific Partnership (TPP).

Citing a remark from the ROC Representative to the Philippines, Gary Lin, Hilario wrote in the article that bilateral relations between the Philippines and Taiwan are cordial and robust, and that the two countries have a broad range of cooperation, including trade, investments, agriculture, fisheries, banking, mining, education, etc.

The article also mentioned that Taiwan is the Philippines’s sixth-largest export destination and ninth-largest trading partner, while the Philippines is Taiwan’s 11th-largest trading partner, with bilateral trade volume doubling from $6.05 billion in 2009 to $11.60 billion in 2014.

As of 2014, Taiwan ranked as the seventh-largest foreign investor in the Philippines, with over 6,000 Taiwanese businessmen operating nearly 600 companies in the Philippines. Companies such as Cathay Life Insurance, Cathay United Bank, Yuanta Bank, Kinpo Electronics Inc, 7-Eleven convenience store, and Bioteque Corporation, have been expanding investment in the country.

The article further talked about the Philippines-Taiwan Economic Cooperation Agreement (ECA), that if signed, Taiwan would become a major investment destination for the Philippines, and a gateway for Taiwanese business sectors in the ASEAN region.

He also pointed out, that these developments can serve as an indicator that Taiwan and the Philippines are not only good neighbors, but shares the same values and goals, and that the bilateral relations between the two are likely to grow stronger in the future.

Updated : 2021-09-22 06:21 GMT+08:00