January 3, 2005
In December 2004, the Organization for Economic Cooperation and Development extended to Taiwan (under the name Chinese Taipei) observer membership on the organization's Competition Committee and special observer membership on its Trade Committee.
This is more great news for Taiwan, which became an official member of the World Trade Organization in January 1.
The OECD's decision is an affirmation of Taiwan's achievements regarding the implementation of its Fair Trade Act over the last decade. Taiwan's special membership on these OECD committees will permit it to use the organization's framework to participate actively in the upcoming round of WTO ministerial meetings, which are set to focus on trade and competition policies. This membership will also help Taiwan keep the implementation of its Fair Trade Act on track with the international community, further boosting Taiwan's competitiveness.
Taiwan's participation on the OECD Trade Committee is also of special significance to Taiwan due to its status as an export-oriented economy.
The Ministry of Foreign Affairs has expressed its pleasure with the OECD's invitation, and looks forward to Taiwan upgrading to formal membership as soon as possible.
The government also is hoping to use Taiwan's formal WTO name Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu rather than Chinese Taipei.
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