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HomeNewsGlobal NewsA winning team illustrates more reasons for Taiwan’s inclusion in IPEF

A winning team illustrates more reasons for Taiwan’s inclusion in IPEF

By Caribbean News Global fav

TORONTO, Canada – Amid the release of the Ministry of Foreign Affairs (MOFA) Q2 2023 economic report card and UN General Assembly (UNGA 78), the outcomes are encouraging in support of a winning team that includes Taiwan to complete the Indo-Pacific Framework (IPEF).

For countless reasons – It’s time to include Taiwan. And to form the best team, IPEF needs to invite the best players!

In a recent economic report, The Ministry of Foreign Affairs (MOFA) announced that Taiwan’s embassies and overseas missions have delivered impressive results in promoting trade and economic relationships in Q2 of 2023, expanded Taiwan’s participation in global economy and trade organizations and promoted key policy measures thus delivering considerable dividends to the country.

Despite daunting global challenges, said MOFA, such as rising interest rates and inflation, the ongoing Russia-Ukraine War and slack global demand impacted Taiwan’s exports. At the same time, geopolitical confrontation is causing a restructuring of supply chains and underscores the importance of strategic industries in global competitiveness.

MOFA continues to deliver on its obligation to advance trade ties with key partners such as the US, EU and democracies in Central and Eastern Europe are going from strength to strength.

“This is evidenced by the first agreement signed in June under the Taiwan-US Initiative on 21st-Century Trade, as well as the statement issued by the Formosa Club in Europe following its Unity Summit 2023 urging the negotiation of a bilateral investment or trade agreement to boost supply chain cooperation,” said MOFA.

Taiwan is most suitable and qualifiable to join IPEF

“Taiwan is definitely the most suitable and qualifiable partner to join IPEF. Playing a pivotal role, Taiwan accounts for over 60 percent of the world’s semiconductor production, including more than 90 percent of the most advanced chips. Within this context, the strategic inclusion of Taiwan within the IPEF assumes paramount importance.” Taipei Economic and Cultural Office in Miami (TECO), Director-General Charles Chi-Yu Chou, said in his recent article ‘Taiwan is most suitable and qualifiable to join IPEF

Taiwan is an important democratic and free player to the IPEF and should be included. Repeatedly, Taiwan continues to demonstrate to the international community its global advantage in trade, healthcare, biomedical industry development Taiwan’s sophisticated semiconductor industry, and economic expansion.

MOFA reported that Taiwan is also making great strides in expanding relationships with its allies, inclusive of:

  • A trade event held during Guatemala president Alejandro Eduardo Giammattei Falla’s visit in April: and,
  • A letter of intent on supply chain collaboration to promote Taiwan investment in the Central America country and an economic cooperation agreement with the Marshall Islands.

Taiwan’s participation and inclusion in IPEF is fundamental to a global winning team, having the skills, ideas and ability to win. Working together to advance global peace, trade, democracy, healthcare, technology, etc.,

As referenced by MOFA’s report: “Taiwan’s work seeking global support for its participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which includes sending delegations to Chile, Peru and the UK to detail benefits that would come from Taiwan membership in the CPTPP, as well as its potential contributions to the trade bloc.”

Support for Taiwan’s UN inclusion, CPTPP, WHO, WTO meaningfully participate, benefit solutions to global issues.

In the global sphere, Taiwan’s New Southbound Policy and Africa Project, says MOFA “is further expanding Taiwan’s presence in emerging markets such as member states of the Association of Southeast Asian Nations, Ghana, Ivory Coast, Nigeria and Somaliland.”

Understanding, Taiwan’s strategic economic, political and democratic independence, home to over 23 million people.

It is time for inclusion. Taiwan for the IPEF team.

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