Japan, Taiwan agrees to boost economic security cooperation

Japan and Taiwan have agreed to bolster cooperation in the field of economic security with an emphasis on supply chain resilience for semiconductors and other crucial goods. During the virtual talks attended by members of Japan's Liberal Democratic Party (LDP) and Taiwan's Democratic Progressive Party, the Taiwanese side showed strong interest in a planned bill to promote economic security which Prime Minister Fumio Kishida's government aims to submit to parliament next year. Kyodo News reported that the meeting was held as the LDP has stepped up exchanges with the Taiwanese ruling party. In the meeting, the LDP welcomed Taipei's bid to join the Trans-Pacific Partnership (TPP) free trade agreement between 11 Pacific Rim countries.
Earlier, Japan, a member of the TPP, said it welcomes Taiwan's application to take part in the trade deal and it sees no technical problem with it, while China has expressed strong opposition to Taipei's move and has lodged a protest to it. Taiwan submitted an application to join the regional trade pact in September, just days after mainland China filed its bid for membership.