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Japan Chamber of Commerce supports Taiwan’s CPTPP bid

Taiwan News - 8 October 2021

Japan Chamber of Commerce supports Taiwan’s CPTPP bid
By Matthew Strong

The Japanese Chamber of Commerce and Industry Taipei (JCCIT) supported Taiwan’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade group, but it also wanted it to end an import ban on food from areas affected by the 2011 Fukushima nuclear disaster, reports said Friday (Oct. 8).

In the wake of the earthquake, tsunami, and nuclear accident which hit northeast Japan in March 2011, Taiwan imposed restrictions on the import of food products from five prefectures in the region, namely Fukushima, Chiba, Gunma, Tochigi and Ibaraki.

Presenting its annual White Paper Friday, the JCCIT said that as on previous occasions, it backed Taiwan joining regional trade blocs such as the CPTPP, while also advocating the signing of an economic partnership agreement (EPA) and a free trade agreement (FTA) with Japan, CNA reported.

The conclusion of trade agreements should play an important role in stabilizing Taiwan’s economy amid growing threats from China, the business group said. Now that Japan chaired the CPTPP for 2021, Taiwan should not let this opportunity go to fully strive for membership.

The JCCIT also encouraged Taiwan’s government to build more power stations in order to meet the growing need for energy resulting from foreign investment in the country.

 source: Taiwan News