Taiwan seeks Japan's backing for CPTPP membership

Government and industry leaders have called for Taiwan’s inclusion in trade bloc

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TAISE photo

TAISE photo

TAIPEI (Taiwan News) – The 2019 Taiwan-Japan Trade and Economic Sustainability Forum was held in Taipei on Friday (Sept. 6) to drum up support for Taiwan's entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The event was jointly organized by the Chinese National Association of Industry and Commerce (CNAIC) and Taiwan Institute for Sustainable Energy (TAISE), reported the Liberty Times.

Japan’s investment in Taiwan continues to grow, particularly in the semiconductor and renewable energy industries, said Vice Minister of Economic Affairs Wang Mei-hua (王美花). She urged Japan's government and business representatives to back Taiwan’s bid to join the Japan-led trade bloc, according to the report.

As Taiwan welcomes a wave of returnee investment not seen in three decades, triggered by the uncertain global trade outlook, Wang told the Japanese representatives that it is a prime opportunity to ramp up investment in the island, wrote the Central News Agency (CNA).

According to CNA, four of the eleven CPTPP signatory nations have yet to ratify the trade agreement: Chile, Peru, Brunei, and Malaysia. Taiwan's effort to be included in the trade bloc has been hampered by multiple issues, including the island’s ban on the import of agricultural products from Japanese prefectures affected by the Fukushima Daiichi disaster in March 2011.