Gov't looking to talk to China on CECA

Nevertheless, the MAC will consign the SEF to explore the possibility of beginning the CECA talks with China as early as possible in the forthcoming round of negotiations, Lai said.

SEF officials agreed with the sense of urgency expressed by business and industry leaders.

They said Taiwan companies will stand to lose business orders if customs duties continue to be charged on products from neighboring trading partners.

The failure to reach CECA to mutually dismantle customs and non-tariff barriers with trade partners could inflict more harm for Taiwan companies than the global economic slowdown, they said.

The SEF officials believe that securing the CECA with China will help eliminate obstacles and improve the chances of Taiwan's efforts to sign free trade agreements with major nations like Japan, the U.S., Singapore and other ASEAN members.

But the chance of reaching FTAs with any other major trading partners will be extremely slim without the CECA with China, they observed.

Despite the complexities of CECA, they suggested Taiwan secure first a CECA framework with China to buy valuable time by drafting lists of products eligible for the free trade treatment.

The prospects of signing a CECA or a framework with China have improved significantly after former Vice President Lien Chan met with Chinese President Hu Jintao at the 2008 Asia Pacific Economic Cooperation (APEC) leaders summit held late November in Lima, Peru.

Lien attended the conference as a special envoy of President Ma.

Leaders of the machinery, plastics, petrochemicals, and synthetic fiber industry associations have decided to work together to draw up proposals about the duty rates for reference by the government.

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