​​TAIPEI (Taiwan News) — Taiwan will push to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) at the Asia-Pacific Economic Cooperation (APEC) meeting on Nov. 15-16.

Taiwan's top trade negotiator Yang Jen-ni (楊珍妮) said the summit in Lima, Peru, is a great opportunity for Taiwan to advocate for its inclusion in the CPTPP, per CNA. Yang said Taiwan has demonstrated its ability to meet the bloc’s high standards and a history of compliance with existing trade commitments.

Taiwan applied to join the CPTPP on Sept. 22, 2021. However, only a week before, China applied for membership and if accepted, Beijing is expected to attempt to block Taipei’s bid.

Yang said that failure to join the CPTPP would shave Taiwan’s GDP by 1.6%. In addition, CPTPP members would be unable to share the advantages of Taiwan’s semiconductor and information technology supply chains.

The CPTPP is one of the world's biggest trade blocs, accounting for 13.5% of global trade and 500 million people. It has 11 member states: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. 

Furthermore, the UK is set to become a full member in December. Its representative said the country would share its experience and assist Taiwan in joining.