Taiwan’s TPP prospects brighten in Washington

Support for Taiwan joining negotiations on the regional trade bloc Trans-Pacific Partnership is strengthening in Washington, according to Taipei City-based American Chamber of Commerce Sept. 17.

“We found a much more positive atmosphere toward Taiwan this time compared to the past few years,” AmCham Chairman Alan Eusden said.

“The fact that the dispute over U.S. beef imports has been largely resolved, and the Trade and Investment Framework Agreement process rejuvenated, has made a big difference in attitudes toward Taiwan.”

Eusden’s remarks follow AmCham’s annual Doorknock Mission in Washington Sept. 9-13. Comprising 20 members drawn from such industries as high-tech, financial services, medical devices and pharmaceuticals, the delegation visited more than 40 government offices and think tanks, including the Office of the U.S. Trade Representative and Departments of State, Commerce, Defense, Energy and Health and Human Services.

Most sources contacted by the delegation indicated that entry for Taiwan into the TPP is a realistic possibility, but only if the country significantly demonstrates a willingness to liberalize its trade and investment regime.

Taiwan’s political isolation, the sources added, are not a barrier to TPP entry but mean the country must work harder to present a convincing case to existing members, who must agree unanimously on admitting any additional negotiating parties in further rounds.

The TPP is a proposed trade agreement comprising negotiating partners Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the U.S. Other nations such as South Korea are also looking to join discussions on the nascent pact.

On bilateral economic ties, the delegation urged U.S. government officials and lawmakers to further strengthen economic and commercial ties with Taiwan, the nation’s 11th largest trading partner. In particular, it proposed the U.S. enter into a Bilateral Investment Agreement with Taiwan.

The delegation also reaffirmed the importance of strengthening Taiwan-U.S. relations, highlighting Taiwan’s democratic system and shared values with the U.S., US$63.2 billion in annual two-way trade, Taipei’s critical role in the global supply chain for technology products, and the large number of Taiwan tourists and students in the U.S.

In addition, AmCham said it is pleased that several initiatives advocated by the organization over the years have come to fruition. These include the granting of visa-waiver privileges to ROC nationals last year and U.S. backing of Taiwan’s bid for observer status in the International Civil Aviation Organization

Source: Taiwan Embassy