Taiwan announces its application to join Pacific trade pact CPTPP days after Beijing’s request

The announcement comes days after Beijing made a similar request to be a member of the pact

Economic Minister Wang Mei-hua and the island’s top trade negotiator John Deng are expected give details of the application on Thursday

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Container trucks line up to enter the Port of Keelung, Taiwan, in April. Photo: Bloomberg

Published: 10:45pm, 22 Sep 2021Updated: 11:26pm, 22 Sep 2021

Taiwan has officially applied to join a Pacific trade pact, just days after Beijing made a similar request to become a member in a bid to increase its economic influence in the region.

Chen Chern-chyi, the island’s deputy economic minister, said on Wednesday that Taipei had submitted the application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Chen told reporters that Economic Minister Wang Mei-hua and the island’s top trade negotiator John Deng would give details of the application in a news conference in Taipei on Thursday. He gave no further information, including where and when exactly the island had sent the application.

Bloomberg reported earlier quoting an unnamed source that the Taiwanese application was sent to New Zealand, which is the depositary nation for the agreement. It said the application would be forwarded by New Zealand to the other member nations for review.

Chen Chern-chyi, Taiwan’s deputy economic minister, said Taipei has submitted the application to join the Pacific trade pact. Photo: EPA-EFE

Originally known as Trans-Pacific Partnership, the formerly 12-member deal was once promoted by the United States as an economic counterweight to mainland China’s growing economic influence, but was put on hold in early 2017 after the then US president Donald Trump withdrew from the pact, saying the US should not engage in any multilateral trade deal that could undermine jobs for Americans.

The regrouping of the pact now links Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Britain is also keen to join the trade deal and began negotiations in June. But the US, is yet to make a clear indication if it will join the group.