Taiwan attracts more investors with signing of the ECFA
A milestone agreement between Taiwan and mainland China will buoy Taiwan exports as customs duties are wiped out for over 500 products and services covered in a special “early harvest” list. But more than just saving on tariffs, the pact offers a greater profile for Taiwan as a launch pad for investors wishing to enter the Chinese market
Issue: July/August 2010
Keywords (click to search):
ECFA
Taiwan
China
tariff
agreement
Lee Tsai
he Economic Cooperation Framework Agreement (ECFA) is a special economic framework agreement to be signed between the Taiwanese government and mainland China. Though both Taiwan and mainland China are members of the World Trade Organisation (WTO), cross-strait trade is still clogged by many restrictions. Therefore, the goal behind the ECFA is to achieve the normalisation of cross-strait trade relations.
I. Background
The ECFA was initially proposed in 2009 by Mr. Ma Ying-jeou, the President of Taiwan. Before June 13 2010, representatives from Taiwan and mainland China conducted three rounds of preparatory talks. On June 24 2010, representatives of both sides conducted the fourth round of talks, during which the text of the ECFA, including its early harvest items and an agreement on protecting intellectual property rights, was finalised. Most importantly, the two parties are scheduled to sign the ECFA on June 29 in Chongqing.
II. Structure and contents of the...
Please login or register below to read this article.