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Industrial associations urge CPTPP entry

2022/08/31 | By EDN

Chinese National Federation of Industries Chairman Miao Feng-chiang said on Tuesday that if Taiwan can join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), it will bring win-win opportunities to countries in the region.

This is because Taiwan's industries are willing and able to participate in the CPTPP, and Taiwanese industries are eager to accept challenges and contribute to the construction of regional industrial ecosystems, Miao said.

The Ministry of Foreign Affairs invited representatives from the 11 CPTPP member states and media representatives from the United States to come to Taiwan. The Federation held a "Symposium on Exchange between the Federation of Industries and the CPTPP Media Delegation" on Tuesday.

Miao said that the US-China trade war and the COVID-19 pandemic cross-domain industrial cooperation could increase the participation of two or more players in the global value chain, especially Taiwan's semiconductor, functional textile, hand tool machinery, and other industries that have a significant footprint in the global market.

Taiwan and CPTPP member countries have always been close economic and trade partners, Miao said. During the pandemic, they continued to cooperate with other countries in the industrial supply chain. The trade volume between Taiwan and CPTPP member countries accounted for a quarter of the total foreign trade. Among them, Japan, Singapore, Malaysia, and Vietnam are Taiwan's top ten trading partners.

He emphasized that since Taiwan has a solid foundation in ICT manufacturing, joining the CPTPP will help improve the resilience of the Asia-Pacific supply chain. Furthermore, in the machinery industry, Taiwan can assist the manufacturing industries of various countries in establishing new intelligent production bases, improving production efficiency, and reducing costs. It can also help member states' manufacturing industries achieve energy conservation and carbon reduction goals gradually.

Industry representatives who attended the symposium yesterday included Honorary Chairman of Taiwan Association of Machinery Industry Ko Ba-xi, Chairman of the Taiwan Electrical and Electronic Manufacturers' Association Li Shi-qin, Honorary Chairman of Taiwan Garment Industry Association Lin Rui-yue, Honorary Chairman of Taiwan Rubber & Elastomer Industries Association Yang Yin-ming, and Huang Jian-zhi, Executive Director of the Taiwan Steel & Iron Industries Association.

Chinese National Federation of Industries Chairman Miao Feng-chiang. (Photo credit: UDN)Chinese National Federation of Industries Chairman Miao Feng-chiang. (Photo credit: UDN)