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Taiwan to join CPTPP next year

Taiwan is planning to join CPTPP as soon as the agreement comes into force early next year. Canada this month introduced legislation to ratify the CPTPP. Japan and New Zealand are planning to complete the ratification process by the end of this year. Mexico has already ratified the agreement. The CPTPP will come into force once six countries have completed ratification.

As per John Deng, Taiwan’s trade negotiator and cabinet minister without portfolio, Taiwan would begin to be locked out of the network of trade agreements in the region, which could become a burden for Taiwanese companies and create export diversion. Regional trade pacts involving the Association of Southeast Asian Nations and the European Union’s trade deal with South Korea had already begun to be implemented. Taiwan was planning to continue market liberalisation on its own and touted increased transparency efforts including allowing foreign companies to comment on new regulations.

 

 
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