Visiting Chinese Kuomintang (KMT) party Chairman Lien Chan called in Shanghai on Monday for the setting up of an economic cooperation mechanism across the Taiwan Straits to further enhance cross-Straits ties.

"The mechanism is the 'common market'," said Lien in a speech at a luncheon party hosted by Taiwan business community in the mainland for the KMT leader and his 60-member party delegation.

Against the backdrop of the current cross-Straits situation, such mechanism should be planned and promoted in a "specialized, long-term and in-depth manner," he said.

Acknowledging that it is not easy for such a mechanism to be put in place at once, Lien said that the pace towards that goal should be quickened in order to realize a "win-win situation" for both sides.

"I feel it will be a great step forward for cross-Straits relations," if such a mechanism is established, said the KMT leader.