Taiwan seeks to join US’ Indo-Pacific economic framework to counter Chinese B&R

Taiwan on Sunday announced that it will seek to join Washington’s ‘Indo-Pacific economic framework’, an initiative planned by Biden ministration for 2022 to boost tre ties in region that accounts for one-third of United States exports, and an estimated $900 billion in foreign direct investment. Biden h formally announced establishment of such a tre pact in East Asia Summit in late October 2021, where he iterated that United States will explore “ development of an Indo-Pacific economic framework” in 2022. He h n dispatched his Commerce Secretary Gina Raimondo and USTR Karine Tai to Japan, Malaysia, Singapore, South Korea, and or nations in Indo-pacific for potential negotiations. 

US-led Indo-Pacific will be first major tre and economic initiative in region or than cooperative supply chain agreement aimed at bolstering America’s engagements in vast contentious region. “We’re determined to ensure freedom of navigation in South China Sea, where Beijing’s aggressive actions re threaten movement of more than $3 trillion worth of commerce every year,” US Secretary of State Antony Blinken h iterated earlier. 

Accusing China’s expansionist agenda and belligerence as a major hindrance to global tre, economy, and progress, Blinken stressed that when commerce can’t traverse open seas “it means that farmers are blocked from shipping ir produce; factories can’t ship ir microchips; hospitals are blocked from getting lifesaving medicines.” And in order to counter such unlawful, expansive South China Sea maritime claims, which are inconsistent with international law, Biden ministration plans to strengn strategic tre and commerce partnerships and cement economic voids. 

Commerce Secretary Gina Raimondo, US Tre Representative Karine Tai and Biden’s Secretary of State Blinken laid groundwork during ir Asia tour last couple of months. ‘Indo-Pacific economic framework’  aims to make supply chains less reliant, focus on clean energy, tighten oversight of exports and safeguard data and artificial intelligence, setting new goals to improve standards for digital economy and technology, strengning cooperation on infrastructure to counter Beijing’s Belt & Ro initiative. 

Taiwan government paying 'close attention'

Taiwan government is now paying “close attention” to Biden ministration’s regional economic pact, sources told Taipei Times, speaking on condition of anonymity. Indo-Pacific economic framework is on table and could launch as early as next month after negotiations with key allies India, Australia, and Japan in region, a Taiwanese official told newspaper.  Joining new economic initiative led by Washington would not overlap or affect Taiwan’s ability to join Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), official iterated. 

free tre agreement was signed by 11 Asia-Pacific countries representing 13 percent of global GDP but was hindered after US pulled out. After China submitted an application to join CPTPP, Taiwan on Sept. 22, 2021, also followed in footsteps of Beijing and applied to join arrangement under name “ Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu” via its representative in New Zealand.