[Asia Economy Reporter Kim Eunbyeol] Following China, Taiwan has applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Bloomberg News reported on the 22nd (local time).
According to the report, Taiwan's CPTPP application has been sent to New Zealand, and an official announcement is expected as early as the morning of the 23rd. However, Bloomberg added that it has not received any comments from the New Zealand Ministry of Foreign Affairs or Taiwanese government spokespersons. New Zealand is responsible for handling CPTPP application submissions.
Earlier, China's Ministry of Commerce submitted its CPTPP application to New Zealand on the 16th. Taiwan's CPTPP application is expected to further escalate the already deteriorating tensions between the two sides of the Taiwan Strait (Liang'an).
China considers Taiwan as part of its own territory and has expressed opposition to Taiwan's CPTPP membership. Wang Wenbin, spokesperson for the Chinese Ministry of Foreign Affairs, stated at a regular briefing on the 7th, "The issue of regional economic cooperation participation by the 'Taiwan region of China' must be handled in accordance with the 'One China' principle."
The CPTPP was launched on December 30, 2018, by the remaining 11 countries including Japan and Australia after the United States withdrew from the original Trans-Pacific Partnership (TPP), which was led by the US in 2017. China viewed the US-led TPP as a means to isolate itself and was wary of it.
However, with the Biden administration in the US seeking to strengthen alliances and possibly rejoin the CPTPP to counter China, China has actively pursued CPTPP membership. Taiwan has already signed free trade agreements with CPTPP member countries New Zealand and Singapore and has been pushing for CPTPP membership for several years.
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