Taiwan is the ideal member for the expansion of the CPTPP. Legally, Taiwan is fully aligned with the CPTPP’s standards in terms of regulations and frameworks, and has a strong track record of fulfilling international commitments. As a major global trading economy, Taiwan can offer current CPTPP members new economic growth and serve as a primary partner in global supply chains.
- Taiwan-Singapore Bilateral Economic Ties
In 2024, bilateral trade between Singapore and Taiwan reached SGD 116.8 billion (US$ 85.9 billion), making Taiwan Singapore’s fourth-largest trading partner and Singapore Taiwan’s sixth-largest partner. Taiwan’s exports to Singapore accounts for 38.4% of its total exports to ASEAN, ranking first.
Investment ties have deepened remarkably. Taiwan’s investment in Singapore surged to US$ 5.81 billion in 2024—12% of Taiwan’s total outward investment—and for the first time in 30 years, surpassed investment in China by nearly 60%. From 2021 to 2024, over two-thirds of Taiwan’s ASEAN investment flowed into Singapore, underscoring its role as a core financial hub.
The majority of investments were concentrated in electronic components in manufacturing (86.9%) and financial services (10.1%). Notable cases include Hon Hai Precision Industry Co., Ltd.’s US$ 2.63 billion and Vanguard International Semiconductor Corporation’s US$ 2.40 billion projects, making up 86.6% of total investment. These developments highlight Singapore’s growing importance as a strategic base for Taiwanese enterprises and a vital partner in regional supply chains. Therefore, the symbiotic relationship makes Taiwan a key partner for CPTPP as its ties to Singapore grow increasingly important.
- What Taiwan Can Contribute to the CPTPP
(1) Taiwan is a stable and vibrant economy that can contribute significantly to trade growth among CPTPP members.
- Taiwan’s robust economic performance and thriving consumer market
- Taiwan has demonstrated steady economic growth, maintaining an average annual growth rate of approximately 3% in recent years. In 2024, Taiwan's GDP growth rate reached 4.59%, with a projected growth of 3.14% in 2025.
- According to the International Monetary Fund (IMF), Taiwan ranks as the sixth-largest economy among the 12 CPTPP members. Additionally, IMF forecasts indicate that Taiwan’s per capita GDP (PPP) will reach US$82,615 in 2025, the third highest among CPTPP member states. This underscores Taiwan’s strong economic foundation and consumer purchasing power.
- Close trade and investment ties between Taiwan and CPTPP members
- Over the past five years, Taiwan has maintained strong economic and trade relations with CPTPP member states. Exports to CPTPP member states accounted for 23% of Taiwan’s total exports, while imports from CPTPP countries made up 28% of Taiwan’s total imports.
- In 2024, Taiwan’s trade with Malaysia, Vietnam, Mexico, and Brunei grew by over 10%, while exports to Singapore and imports from Peru also increased substantially.
- CPTPP member states accounted for 34.7% of Taiwan’s total outbound investments in 2024, while 30.7% of Taiwan’s FDI inflows came from CPTPP countries. Singapore, Japan, and Canada were the top destinations for Taiwan’s overseas investments, while the United Kingdom, Japan, and Singapore were the top three sources of foreign investment in Taiwan. This demonstrates the growing interconnectedness of financial flows between Taiwan and CPTPP members.
- Taiwan’s trade and economic system recognized internationally
- In 2024, Taiwan ranked 8th globally in the IMD World Competitiveness Ranking. According to the 2025 Economic Freedom Index (Heritage Foundation), Taiwan ranked 4th globally and 2nd in the Asia-Pacific region.
(2) Taiwan can help strengthen supply chain resilience and support trade diversification.
- Taiwan’s accession to the CPTPP can assist members in developing ecosystems in key industries such as semiconductors, AI, biotech, and green energy, strengthening resilience and positioning CPTPP members as global supply chain hubs.
- Taiwan’s “Five Trusted Industry Sectors” — semiconductors, artificial intelligence, military and security, surveillance, and next-generation communications — provide indispensable technological strength and reliable supply chains.
- Taiwan’s precision machinery industry is able to support emerging economies in upgrading manufacturing, automation, and smart technologies.
- CPTPP’s economic network will further incentivize Taiwan’s investments in member states, deepening mutual cooperation in technology and talent.
(3) Taiwan’s trade and economic policies are committed to meeting CPTPP’s high standards.
Taiwan has long focused on key emerging issues that CPTPP emphasizes, including:
- Trade Facilitation: Bilateral agreements exceeding WTO standards to simplify customs and improve efficiency.
- Unfair Trade: Active monitoring of market distortions and SOE competition.
- E-commerce: Promoting global digital trade regulations and cybersecurity.
- Environment: Commitment to net-zero emissions by 2050 through green trade and sustainable governance.
- MSMEs: Strengthening cooperation with partners to expand SME trade and investment opportunities.
- Conclusion
Taiwan is a strong economy with deep trade partnerships and reliable supply chains; its commitment to CPTPP’s legal and international standards makes it an ideal member for the CPTPP. Taiwanese accession will not only strengthen regional economic resilience and trade diversification but also result in significant investment opportunities and strong growth in high-tech industries for CPTPP economies.
We look forward to the support of CPTPP members, including Singapore, in establishing a working group for Taiwan’s accession, further advancing the goal of regional economic integration and prosperity.
