CPTPP could boost agricultural sector
Agriculture Minister Chen Chi-chung is confident that local farmers would benefit if Taiwan successfully joins the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Chen says the government is already taking steps to protect 20 agricultural products that could be negatively affected if Taiwan gains membership in the CPTPP.
Citing Japan's own protective measures, he says the lowered tax rates for those products could be gradually implemented over the course of two decades or longer.
He has expressed strong confidence that Taiwan can not only safeguard these sectors, but also create new opportunities from joining the free trade bloc.
Chen says his ministry has estimated that after joining the CPTPP, Taiwan agricultural products exports could increase by up to NT$50 billion.