TAIPEI (Taiwan News) — Taiwan is laying the groundwork for joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), President Tsai Ing-wen (蔡英文) said in an interview with Japanese magazine Bungei Shunju on Monday (Aug. 9).
The journalists cited Tsai’s previous experience successfully negotiating Taiwan’s entry into the World Trade Organization and asked what her country’s strategy is this time around, according to a UDN Finance report.
Tsai said the government is undergoing a thorough appraisal of its economic and trade policies, assessing sectors where regulatory reform is needed, and implementing rolling reviews across the board. Tsai believes this work will enable Taiwan to better contribute to the partnership’s existing framework once it has become a member.
Tsai said diplomatic obstacles hold Taiwan back from entering the trade grouping, explaining that the country lacks official ties with many of the member states but needs to gain approval from all members to gain entry. This remains the chief challenge, Tsai said, but thankfully there are many like-minded countries that welcome Taiwan’s bid to join.