Taiwan's envoy to APEC summit seeks support for country's CPTPP bid

Taiwan's President Tsai Ing-wen's envoy to the Asia Pacific Economic Cooperation (APEC) forum Morris Chang sought support from other member countries for Taipei's bid to join the 11-nation Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), reported local media.

Chang speaking at the virtual APEC Economic Leaders Summit hosted by New Zealand on Friday, said that economic integration has helped the region forge closer economic and trade ties, reported Focus Taiwan.

Chang -- the founder of the world's largest contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC) -- said that he has faith in supporting initiatives that deepen economic integration, promote high standards on trade-related rules, and help improve the livelihoods of people across the Asia-Pacific region.

Emphasising that because of these beliefs, Taiwan has applied to join the CPTPP, Chang said that the comprehensive agreement could generate momentum for the development of the region, liberalising trade and investment while promoting sustainable growth.

Stressing that Taipei plays an irreplaceable role in the global high-tech supply chain, Chang said that Taiwan also has a highly transparent market economy, and it is able and willing to respect the CPTPP's high standards, according to Focus Taiwan.

In September, Taiwan applied to join CPTPP days after Beijing had filed its application.

The CPTPP is a free trade agreement (FTA) between Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam. The CPTPP was signed by the 11 countries on 8 March 2018 in Santiago, Chile.

( With inputs from ANI )

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