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Updated Friday, January 7, 2011 11:22 am TWN, The China Post news staff and CNA



	Mainland Affairs Council Deputy Minister Liu Te-shun (劉德勳), left, and Vice Minister of Economic Affairs Francis Liang (梁國新) host a press conference yesterday announcing the establishment of the cross-Strait economic cooperation committee (CSECC). (CNA) Enlarge Photo

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Cross-strait trade committee launched

TAIPEI, Taiwan — A long-awaited committee to serve as a window for handling trade negotiations between Taiwan and China was formally launched yesterday, with authorities from both sides announcing its establishment in Taipei and Beijing, respectively.

The cross-Strait economic cooperation committee (CSECC), launched to fulfill one of the clauses of the Taiwan-China economic cooperation framework agreement (ECFA) signed in June 2010, became operational immediately after the two sides' intermediary bodies exchanged instruments of ratification of the agreement by fax yesterday morning.

The two sides' intermediary bodies refer to Taiwan's Straits Exchange Foundation (SEF) and Beijing's Association for Relations Across the Taiwan Straits (ARATS).

SEF Vice Chairman Kao Koong-lian and ARATS Vice President Zheng Lizhong were appointed conveners of the CSECC, which will function under a SEF-ARATS framework.

Kao in turn appointed Vice Minister of Economic Affairs Francis Kuo-hsin Liang as Taiwan's top trade representative, and Zheng appointed China's Vice Minister of Commerce Jiang Zengwei as Kao's counterpart.

Disputes that arise from investment activities by Taiwanese businessmen in China could be referred, if necessary, to the newly established Cross-Strait Economic Cooperation Committee (CSECC) for resolution, Minister of Economic Affairs Shih Yen-shiang said yesterday.

Speaking in a legislative session, Shih reiterated that until a cross-strait investment protection agreement is concluded, Taiwanese investors operating in China should continue to refer their disputes on the Chinese mainland to the relevant governmental agencies in Taiwan.

Shih said the committee is a functional organization that does not have a brick-and-mortar office. It will meet once every six months, in keeping with one of the clauses in the economic cooperation framework agreement (ECFA).

On Jan. 1, preferential tariffs took effect for more than 700 products that are traded between Taiwan and China and were on the ECFA's “early harvest” list.

The CSECC is seen as necessary to facilitate talks on the implementation, interpretation and coordination of the “early harvest” list and other ECFA-related matters.

More than 700 products traded between the two sides, which were on an “early harvest” list that was part of the trade deal, began enjoying preferential tariffs on Jan. 1. The committee is seen as necessary to facilitate talks on the implementation, interpretation and coordination of the “early harvest” list and other ECFA-related business.

Panels under the committee are also expected to follow up on issues involving commodity trade, service access, dispute settlement, and investment protection.

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