Date: Oct 29, 2015
By: Ted Chen / Staff reporter
Former minister of finance Yen Ching-chang (顏慶章) on Tuesday said that among many forthcoming regional economic integration and trade bloc initiatives, the nation’s priority should be placed on the Trans-Pacific Partnership (TPP).
Taiwan should pursue the TPP, as it is the most comprehensive regional economic and trade integration initiative, Yen said at a financial sector forum event organized by PricewaterhouseCoopers Taiwan.
The US, Japan and 10 other Pacific Rim nations concluded TPP negotiations on Oct. 5 after more than five years. The trade bloc covers about 40 percent of the global economy.
“There is no other initiative worth considering other than the TPP, as other options have no clear timetable and offer only limited integration beyond tariff reduction through free-trade agreements [FTA],” Yen said, referring to the Economic Cooperation Framework Agreement (ECFA) with China, the Regional Comprehensive Economic Partnership (RCEP), the Asian Infrastructure Investment Bank (AIIB) and the “one belt, one road” trade initiative. [FULL STORY]