EXPLORING OTHER OPTIONS: As the RCEP free-trade deal is led by China, Taiwan would find it challenging to join the partnership, the foreign ministry said

Taipei Times
Date: Nov 16, 2020
By: Lu Yi-hsuan and Lin Liang-sheng / Staff reporters

Taiwan would strive to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as it would be challenging for the nation to join the Regional Comprehensive Economic Partnership (RCEP) given China’s dominance in the latter, the Ministry of Foreign Affairs said yesterday.

The RCEP was signed by 15 Asia-Pacific nations on the last day of the virtual ASEAN summit yesterday, becoming the world’s largest free-trade agreement.

The 15 nations are the 10 ASEAN members — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam — and Australia, China, Japan, New Zealand and South Korea.

Taiwan would find it substantially difficult to join the RCEP, as it is led by China, the ministry said, adding that, as such, Taiwan’s main goal regarding regional economic integration is to push for participation in the CPTPP.    [FULL  STORY]