President Ma Ying-jeou says that if Taiwan wants to join regional trade pacts like the Trans Pacific Partnership (TPP), it cannot ignore China. His comments came in an interview with a Chinese-language magazine, Global Views Monthly, out on Sunday. The interview was published as President Ma marked his sixth year in office.
In the interview, the president said it is imperative for Taiwan to join pacts like the TPP and the Regional Comprehensive Economic Partnership (RCEP). That’s in line with increasing globalization, and what some say is the waning influence of the World Trade Organization.
The president said that Taiwan’s trade with the current 12 signatories of the TPP is valued at US$200 billion. That accounts for about 34% of all of Taiwan’s trade. Meanwhile annual trade with RCEP member nations totals US$325 billion, or about 57% of Taiwan’s total trade.
President Ma said that China could end up being a big player in both of those partnerships. Therefore, he said, if Taiwan wants to participate, it cannot ignore China. Ma said it’s important for whichever party is in power in Taiwan to be aware of that.