《TAIPEI TIMES 焦點》 Taipei to bolster Asia-Pacfic links amid TPP fallout

/ Staff writer, with CNA

The government yesterday said that it would continue to bolster economic links with other nations in the Asia-Pacific region after the US formally pulled out of the Trans-Pacific Partnership （TPP） trade deal.

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US President Donald Trump on Monday signed an executive order scrapping the US’ flagship trade deal with 11 other Pacific Rim nations.

Taipei is to continue its efforts to expand bilateral economic and trade relations with nations in the region and actively participate in regional economic cooperation, Presidential Office spokesman Alex Huang （黃重諺） said yesterday.

The government’s economic development goals are to complete the upgrade and transformation of the nation’s economic structure and formulate an economic and trade strategy for the next phase, Huang said.

The government is promoting a “five plus two” development strategy and building economic links and cooperation with other economies in the region, he said.

The government plans to keep a close watch on the Trump administration’s economic and trade policies, Huang said.

Taipei is to continue talks with Washington under the bilateral Trade and Investment Framework Agreement to strengthen economic and trade relations, Executive Yuan spokesman Hsu Kuo-yung （徐國勇） said.

Taiwan would also work to relax regulations to establish free-trade agreements with the US and other nations, he said.

The government is to continue to push for bilateral investment deals and free-trade agreements with the US and countries in the Asian region, Vice Minister of Economic Affairs Wang Mei-hua （王美花） said.

With the US’ withdrawal from the TPP, the impact of the trade deal would be diminished, National Development Council Deputy Minister Kao Shien-quey （高仙桂） said.

The US is now more likely to seek major bilateral trade agreements than to participate in any efforts at multilateral regional economic integration, she said.

Global economic and trade relations can be expected to undergo significant changes, she said.

To avoid being marginalized amid regional economic integration, Taiwan should seek to establish bilateral trade deals with other nations, she said.

Taiwan Institute of Economic Research’s Economic Forecast Center director Gordon Sun （孫明德）, said that Taipei should resume negotiations with the US on a bilateral trade deal, sign trade-in-goods agreements with regional economies to reduce tariffs on exports and promote its strategic location.

新聞來源：TAIPEI TIMES