Taiwan must accelerate the work of reviewing domestic laws and amending outdated regulations if it is to join the Trans-Pacific Partnership (TPP), Premier Chang San-cheng said today after hearing the Ministry of Economic Affairs' (MOEA) report on the latest TPP accession efforts.
"Today marks an important milestone as ministers from the TPP member countries gather in New Zealand to sign the deal. Starting today, every signatory country will have two years to complete their respective ratification procedures," noted the premier.
Chang added that the MOEA's TPP Communication Projects Office launched January 27 will serve as an important platform for communicating with the public. He requested the MOEA and the National Development Council to reinforce communication with the industrial sectors so as to speed up Taiwan's entry into the TPP.
With TPP members accounting for 34.3 percent of Taiwan's export and 18.9 percent of inward foreign direct investment, domestic businesses would suffer tariff discrimination and face non-tariff and investment barriers if Taiwan is not able to join the trade bloc, the MOEA said.
To achieve greater transparency and forge a stronger national consensus, the MOEA encouraged other agencies to use the TPP communication platform to arrange an array of events that will convey information to the public in an organized and comprehensive manner. The MOEA has also set up a dedicated TPP website (http://www.tpptrade.tw) providing the text of the TPP agreement in Chinese and English, information on its members, Taiwan's approach and strategies, explanatory videos, and answers to frequently asked questions about the TPP.