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ECFA signed

TAIPEI, Taiwan -- The Economic Cooperation Framework Agreement (ECFA) reached with China will enable Taiwan exporters to save NT$26.1 billion in customs duty when shipping their products covered in the “early harvest” list to the Chinese market, according to officials at the Ministry of Finance (MOF).

Taiwan's top negotiator with China, Chairman P.K. Chiang of the Straits Exchange Foundation (SEF), formally signed the ECFA yesterday in Chongqing, China, with his Chinese counterpart Chen Yunlin, president of the Beijing-based Association for Relations Across the Taiwan Strait (ARATS).

The deal was formally sealed at their fifth round of talks since President Ma Ying-jeou took office in May 2008.

MOF officials said under the pact, the Chinese mainland will lower the tariff rates on 539 categories of products from Taiwan while the island will offers tariff concessions for 267 categories of products from China.

The reciprocal tariff reduction will give the Taiwan side a net advantage of paying NT$26.1 billion less in customs duty to China.

The officials said they have reached an agreement with counterparts in China to implement a system certifying the origins of products so that no products from other nations or areas will be eligible for the preferential tariff rates.

Customs offices between the two sides will also establish an electronic mechanism as early as possible to more efficiently transmit relevant data and documents for cross-strait trade.

Future Talks

SEF Chairman Chiang said in Chongqing that medical cooperation and investment protection will be on the agenda for the next and sixth high-level meeting across the Taiwan Strait.

He expressed hope at a press conference that both sides can start communications immediately and try to complete the negotiations as early as possible.

During a nearly three hour discussion earlier in the day, Chiang also told Chen, his Chinese counterpart, that although the two sides have signed 12 agreements, further discussions will still be needed to address issues like insufficient flights and food safety.

Chiang said that there was also room for further improvement regarding jointly fighting crime and mutual legal assistance.

Chen said he agreed to the views and suggested that issues related to the 12 agreements be prioritized for more efficient implementation, Chiang said.

Comments
June 30, 2010    the_alliance47@
It's about time that Taiwan realizes that it needs to be part of the global economy. For the past decade, it has been marginalized itself and pushed itself towards obscurity, but this achievement shows that Taiwan is ready again to compete in the global marketplace.
June 30, 2010    ociagc00@
"...the democracy is our strongest power..."
however Ecfa seems to be the strongest power to push us forward?!
June 30, 2010    biztru@
Taiwan island's people's greatest challenge may not be the mainland but those who aim to make an enemy out of the mainland people.

It is astounding to find that some people view people, ideologies and things of the US and Japan more positively, favorably and superiorly than those of China even though there is little to separate the people on the mainland from the island where both share the same life philosophy except for political ideology. One difference out of life's many and destruction is trumpeted.

Is such view flawed since the entire sequence of events is not considered except for those parts that serve certain interests? Were US and Japan fair and just throughout?

When US evolved what happened to you Chinese people? The majority suffered because of bad national management. A country with a long history like China is bound to experience more severe bad patches than those with short history. It is flawed to just view China negatively as such. It is also unfair to penalize the present Chinese for a situation they inherited and are currently still trying to find their way out despite many foreigners ostracizing them.

When a person looks down on their own kind it doesn't make that person a better one. One would have thought of helping than destroying them isn't it?
June 30, 2010    cia-yes@
Choose yourself, globalization or localization.
July 1, 2010    abcdef@
China = Global Economy?

It remains to be seen if Taiwan will be able to sign FTAs with other countries freely.
July 1, 2010    cigars898@
to biztru:
You are astounding.

Help me understand your naive understanding of history.
Did you learn your history in China?

You wrote
"both share the same life philosophy except for political ideology."

You make it sound like "life philosophy" and "political ideology" are very different from one another. You mean like, "I believe in God but I think it should be illegal to worship god." or " I wish I could read any book I wanted but I'm glad the government censors what I can read." We call those ideologies freedom of speech and freedom of religion, in case you didn't know.

You wrote:
"One difference out of life's many and destruction is trumpeted."
How about the missiles China has pointed at Taiwan threatening our very existence. (I can hear you thinking, "Forget about that, it's just a little thing. They would never use them")

You wrote:
"The entire sequence of events is not considered." and
"It is flawed to just view China negatively as such. It is also unfair to penalize the present Chinese for a situation they inherited and are currently still trying to find their way out despite many foreigners ostracizing them."

Here's the difference between China and the Free World. Most of the countries have recognized their faults, apologized, tried to right their wrongs and tried not to make the same mistakes again. When has China EVER done that?
eg
Tienanmen what?
Chairman Mao (how can you not love this guy?)
Responsible for tens of millions of deaths. How does China distance themselves from this psycho and try to right his wrongs? They put his face on their money and walls. Did you miss one of those books? There are only about 20,
thousand-page books documenting this monster.

You need to learn your own history and not the one you were spoon-fed at school.

You would think that the Chicoms would want to help Taiwan not destroy them.



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 ECFA signed 
Chairman P.K. Chiang of the Taipei-based Straits Exchange Foundation, left, completes the signing of the ECFA with his Chinese counterpart Chen Yunlin, president of the Beijing-based Association for Relations Across the Taiwan Strait, in Chongqing, China. The two top cross-strait negotiators also inked a pact safeguarding intellectual property rights yesterday. (CNA)

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