Taiwan actively seeks bilateral free trade agreements, though it is hampered in this effort by its status vis-a-vis China. It has FTAs already with Panama (2003), Guatemala (2005), Nicaragua (2006), El Salvador (2007) and Honduras (2007). It is negotiating with Dominican Republic and Paraguay. And it hopes to negotiate further deals with Costa Rica, Israel, Swaziland, Japan, the US of course, Korea, New Zealand, Singapore and Mexico. Taipei’s emphasis on Central American countries as FTA partners is to gain access to the US market under NAFTA and CAFTA. But now Taiwan is in talks with China for a possible FTA following the signing of the Economic Cooperation Framework Agreement (ECFA) between the two governments in 2010.
last update: May 2012
Photo: simonwai/CC BY-NC-SA 2.0
In an exclusive interview with the United Daily News, South Korea’s representative to Taiwan stated that the majority of the contents in the agreement have been shaped while both sides have yet to agree on a few fragments.
All free trade negotiations with Taiwan planned for this year have been shelved by “other countries” because of unrest over the services pact with China, Taiwan’s Economics Minister said Monday, though he refused to name any specific countries.
On Thursday, Taiwan’s anti service trade agreement movement will leave the Legislative Yuan and the occupation will come to an end. Some of its participants think that the movement has not achieved its aims and do not want to leave. As outsiders it is difficult for us to judge.
The Ministry of Economic Affairs said Tuesday that Taiwan should push for a free trade deal with Australia, noting that one signed between South Korea and Australia might impact Taiwanese manufacturers of petrochemical products and auto parts — two of Taiwan’s major exports to Australia.
The United States would welcome Taiwan’s participation in the Trans-Pacific Partnership as long as it meets the high standards set by TPP members, Taipei’s diplomat to Washington was cited as saying yesterday.
Taiwan’s president, Ma Ying-jeou, has recently turned aggressive in seeking to join the Trans-Pacific Partnership talks and could learn from Korea’s strategy.
The Republic of China representative to Malaysia called on the Malaysian government to consider signing an economic cooperation agreement with Taiwan.
Taiwan is building up a free trade zone to counter the threat of being marginalised in the wake of trade deals being negotiated by major economies and regional Asian neighbours (TPP and RCEP).
Former Vice President Vincent Siew will lead a business delegation on a visit to the United States later this month to drum up support for Taiwan’s efforts to join the Trans-Pacific Partnership (TPP), according to Taipei’s representative office in the U.S Wednesday.
The economic partnership agreement between Taiwan and Singapore inked yesterday is likely to benefit manufacturing as well as to promote bilateral investment and trade, Economic Affairs Minister Chang Chia-juch (張家祝) said yesterday.