Mainland, Taiwan expect deeper economic co-op (2)

20:21, September 09, 2010      

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ECONOMIC PACT

Also on Wednesday, Vice Minister of Commerce Jiang Zengwei urged the two sides to make good use of the Economic Cooperation Framework Agreement (ECFA) in order to further promote cross-Strait economic cooperation.

Jiang said the ECFA basically covers the main economic activities between the mainland and Taiwan, including improvements on the current cross-Strait economic system and promises on future economic cooperation.

Jiang made the remarks while attending a forum on cross-Strait investment and trade, which was also held in Xiamen.

The ECFA, signed in June this year, aims to establish a systematic mechanism for enhancing cross-Strait economic cooperation. It will formally take effect after both sides "complete due procedures and notify each other," according to the agreement.

Jiang hoped that the pact will gradually reduce the obstacles in cross-Strait investment and trade, and promote the incorporation of the mainland's advantages in markets, resources and talents, as well as Taiwan's capacity for technology, research and development, and management.

"... This is only the first step. The road ahead is still long and winding," Jiang said, adding that the two sides will continue to negotiate for the goal of fully realizing the normalization of cross-Strait economic relations.


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(Editor:李牧(实习))

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