Indonesia, Taiwan can Benefit from Trans-Pacific Partnership

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    TEMPO.CO, JakartaThe Trans-Pacific Partnership (TPP) membership will benefit Indonesia and Taiwan while supporting their aspirations for peace and prosperity in the Asia-Pacific region, according to Taiwanese Prime Minister Mao Chi-kuo's statement received by Antara.

    "If the two countries were to become members of the TPP, Indonesian companies would witness reduced import costs, which would also benefit Taiwan. The small- and medium-sized enterprises of Taiwan also offer a wealth of experience that can help boost Indonesia's technological and production capabilities," he emphasized.

    According to Mao, Taiwan and Indonesia share close trade relations. In 2014, Taiwan had invested US$17 billion, which resulted in the creation of over a million jobs in Indonesia.

    This places Taiwan in the tenth rank in the list of countries with the highest foreign direct investment in Indonesia. Taiwan also supplies garments, footwear, electronics, and information and communication technology to Indonesia.

    Taiwan established cooperation with member countries of the Asia-Pacific Economic Cooperation (APEC) organization to push infrastructure programs that have yielded visible benefits for the international community.

    "Such close economic ties are the foundation for ensuring peace and stability in the region," he said, adding that Indonesia, as an important trading partner for Taiwan, has also expressed its intention to seek membership in the TPP.

    Taiwan is an important economy in this part of the world, with a vital role in the region's supply chain.

    Taiwan's trade volume with the 12 TPP members has reached US$200 billion a year.

    As the world's 27th-largest economy, Taiwan contributes significantly in the form of industry, technology, and investments across the globe, establishing long-term alliances with international brands and building cooperative ties with TPP member states.

    Moreover, the TPP countries are important destinations for Taiwan's foreign direct investment while Taiwan's import market, worth nearly US$300 billion a year, is a lucrative target for TPP exporters.

    "I wish Indonesia every success and appeal for support for Taiwan's participation as well," the prime minister affirmed.