Singapore Foreign Minister Vivian Balakrishnan says that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) welcomes Taiwan's application. However, he also addressed the political complications of Taiwan's bid to join the trade bloc. Balakrishnan shared these views on Thursday. His remarks weigh heavily, since Singapore will be the chair of the CPTPP in 2022.
Balakrishnan's words come as tensions run high, with Taiwan and China both submitting bids to join the CPTPP. Many Taiwanese politicians fear that if China is accepted into the CPTPP first, Taiwan's bid will be rejected.
Balakrishnan said, "We would welcome [Taiwan's] application in the same way we would welcome any economy that is willing and able to meet those high standards. Having said that, there are obviously political complications in that respect, and like many of the issues across the straits, again you do need resolution.”
Balakrishnan also says that any government that wishes to join the CPTPP needs to be approved by all other existing member nations. These include several US allies.
While Balakrishnan has also welcomed China's interest in joining the CPTPP, not all other members have reacted as positively. Australia's trade minister, Dan Tehan, said Wednesday that there would have to be extensive discussions with China before he would consider allowing the country to join the bloc.
