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CPTPP will benefit Taiwan's machinery industry: President Tsai

Tsai talks up importance of trade pact for industry to access regional markets

President Tsai Ing-wen walks through the venue at Nangang Exhibition Center during the TIMTOS x TMTS 2022 expos. 

President Tsai Ing-wen walks through the venue at Nangang Exhibition Center during the TIMTOS x TMTS 2022 expos.  (CNA photo)

TAIPEI (Taiwan News) — President Tsai Ing-wen ( 蔡英文 ) said her government is sparing no effort in its bid to join the Comprehensive Progressive Trans-Pacific Partnership (CPTPP) at a machinery industry expo on Monday (Feb. 21).

Tsai attended the opening ceremony of two industrial exhibitions at Taipei’s Nangang Exhibition Center — TIMTOS and TMTS 2022 — which were jointly held for the first time this year, where she made some remarks about what the CPTPP can bring Taiwanese industry, per a CNA article. Tsai said the pact will enable Taiwan’s machinery industry to better access markets throughout the region through lower tariffs which will make the country more competitive.

The president said the machinery industry is a key driving force for Taiwan's economic growth, powered by an integrated industrial supply chain, flexible small and medium-sized enterprises, and a spirit of continuous breakthrough and innovation. When the specter of the COVID-19 pandemic first loomed large, she said, the machinery industry stepped up to the challenge and rapidly formed a mask manufacturing national team which worked to stabilize the country during the health crisis.

Tsai says that many CPTPP members use Taiwan’s machinery and that by entering the partnership, this will lower tariffs and barriers to entry for these markets, and increase the competitiveness of the nation's industry.

In the face of growing geopolitical challenges and the global goal of reaching carbon neutrality by 2050, she added, Taiwan should better integrate its information and communications, precision machinery, and other strategic industries to create a national team that will make the country the best partner for smart manufacturing solutions.

Tsai says that Vietnam, Malaysia, Indonesia and others are developing new cutting-edge IoT and AI-based industries. She sees a new opportunity for Taiwan here.

The government will proactively push its digital New Southbound Policy, and integrate AI, big data, and integrated management solutions to create smarter, more customizable production lines, Tsai noted, which will enable Taiwanese manufacturers to open up even more opportunities.

Tsai went on to say the development of electric vehicles, green energy, aerospace, and precision medicine in Taiwan is built upon a solid base of industrial machinery. She anticipates the combined efforts of the industry and the government to move Taiwan toward a new era of smart manufacturing.