Taipei, Nov. 9 (CNA) Taiwan is supportive of the Trans-Pacific Partnership (TPP) and the proposed Free Trade Agreement of the Asia-Pacific (FTAAP) as instruments that could lead to economic integration of the Pacific Rim, Taiwan's representative said Tuesday ahead of a key annual regional leaders' summit.
Former Vice President Lien Chan, who is leading the "Chinese Taipei" delegation to the 2010 Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in Yokohama, Japan, told a press conference that Taiwan supports the initiatives because it is determined to participate in regional economic integration.
"We have been always supportive of the FTAAP as a long-term APEC goal, " said Lien, who was named as Taiwan's representative to the 21-member forum for the third straight year. Other economies are led by their heads of government.
The veteran politician then turned his attention to the TPP, a multilateral free trade agreement (FTA) initiated by four APEC economies -- Brunei, Chile, New Zealand and Singapore -- in 2005, to which five more countries -- Australia, Malaysia, Peru, the United States and Vietnam -- are also currently negotiating to join.
The TPP, he said, is one of the pathways under the APEC framework that could eventually help achieve the goal of the FTAAP.
Taiwan could increase its participation in regional economic integration through the TPP discussions, Lien added.
With the U.S. hosting the 2011 APEC Summit in Hawaii, TPP talks are expected to receive further positive momentum, Lien said.
Taiwan recognized the importance of a free trade system, he said, which was why it is voluntarily participating in evaluation under the Bogor Goals. Adopted in Bogor, Indonesia, in 1994, these goals target free and open trade, particularly through the lowering of tarrifs, by 2010 for "developed" economies, and by 2020 for "developing" economies, which includes Taiwan.
Lien reiterated that Taiwan intends to further liberalize its trade relations with major trade partners and explore the feasibility and possibility of FTAs, following signing of the Economic Cooperation Framework Agreement (ECFA) with China in June.
"However, it's a long process and will not happen overnight, " said Lien, who will lead the delegation consisting of officials and business leaders departing for Japan Thursday for the two-day leaders' meeting Nov. 13-14. (By Chris Wang) enditem/MH