CHINESE TAIPEI CPTPP APPLICATION WELCOME, SAYS BUSINESS FORUM

Media release, 23 September 2021

Chinese Taipei’s formal application to join the Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP) raises the prospect of wider cutting-edge trade liberalisation in the Asia Pacific region, says Stephen Jacobi, Executive Director of the NZ International Business Forum (NZIBF).

“We welcome Chinese Taipei’s interest to join CPTPP, which clearly provides for the accession of new members, including separate customs territories, who can demonstrate they can meet its high standards. CPTPP is a pathway to the Free Trade Area of the Asia Pacific (FTAAP) which ultimately needs to incorporate all economies in the region”, said Stephen Jacobi.

New Zealand and Chinese Taipei already have a high quality trade agreement and co-operate actively in APEC and the World Trade Organsation (WTO).

“New Zealand’s FTA with the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu has already provided excellent market access and given rise to an increase in bilateral trade. For the CPTPP bid to be successful, Chinese Taipei will need to demonstrate its ability to meet the high standards of other aspects of the Agreement. This is the same standard that applies to all CPTPP aspirants and Chinese Taipei’s application should be considered no differently”, said Mr Jacobi.

“We urge the New Zealand Government and other CPTPP partners to engage with Chinese Taipei according to the processes outlined in the Accession Protocol to deepen understanding of CPTPP’s provisions and obligations”, concluded Mr Jacobi.