Challenges and Prospects for the CPTPP in a Changing Global Economy: Taiwanese Accession and Canada’s Role.

Abstract

The Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), which entered into force on December 20, 2018 for the six of the eleven signatories that had completed ratification at that time (Australia, Canada, Japan, Mexico, New Zealand and Singapore) is a beacon of hope in a dark protectionist landscape.  The CPTPP advances the trade and investment liberalization agenda at a time when protectionist measures by some major trading countries are threatening to undo decades of progress.  With respect to Taiwan, the Taiwanese government has made no secret of its interest in accession to the CPTPP.  Taiwanese accession should be pursued because it is in the interest of Canada and the other members of the CPTPP to add to the strength of the organization by welcoming an economy like Taiwan that is an important global trader, a key player in global supply chains and is willing and able to accept CPTPP disciplines.  Canada is the second largest economy in the CPTPP and can play an important role in getting the accession process started, including supporting the extension of an invitation to Taiwan to begin negotiations. It’s time to move from talk to action.