Premier Sean Chen today presided over a meeting of the Cabinet-level task force on international trade and strategic alliances, discussing policies for promoting free trade agreements (FTAs), the Trans-Pacific Partnership (TPP) and Taiwan-U.S. trade relations.
Concerning Taiwan's pursuit of FTAs and economic cooperation agreements with other countries, the premier instructed the Ministry of Economic Affairs to incorporate input from other government agencies into their plans. Chen asked all agencies to help speed up the preparation work and to draft strategies to head off potential problems. In addition to communicating vigorously with various interest groups, care should also be taken to build a public consensus in support of the FTAs.
As for Taiwan's bid to enter the TPP trade bloc, Premier Chen pointed out the TPP is a comprehensive agreement that promotes a high degree of liberalization. It is therefore critical for Taiwan to implement complementary measures and strategies as quickly as possible to create the conditions for accession. The government is currently working on several fronts with the goal of making significant advances in five to six years and gaining TPP membership in eight:
• Promote liberalization from within: Strengthen communication with citizens, build a public consensus, accelerate trade reforms and restructure domestic industries.
• Garner support from abroad: Fortify trade relations with the U.S., maintain positive interactions with mainland China, expand trade with TPP member countries, and demonstrate Taiwan's resolve to make trade freer.
To improve trade ties with the U.S.—a vital political and economic partner as well as key ally for Taiwan's entry into the TPP—the government is taking a multi-thronged approach involving official and private channels. Official interactions include promoting the Taiwan-U.S. Trade and Investment Framework Agreement; engaging in routine contact and collaborations with the U.S. Department of Commerce, Department of Energy and other administrative agencies; and enhancing exchanges between the two sides' industries and think tanks.
Today's meeting was the first since the premier took the helm of the task force in August. The unit was formed to promote FTAs in response to regional trends of economic integration. As the new convener, Chen's first order of business was to have the task force reorganized to make it more adaptable to changing economic conditions.