Early harvest lists finalized at ECFA meet

In terms of the value of exports to China, the Taiwanese goods and services amount to US$13.83 billion a year, over four times China's corresponding figure of US$2.86 billion in shipments to Taiwan, Wu reported.

The premier made the report in the company of Economics Minister Shih Yen-hsiang, Chairwoman Lai Hsing-yuan of the Mainland Affairs Council, Chairman Chen Yu-chang of the Financial Supervisory Council, and Chairwoman Jennifer Ju-hsuan of the Council of Labor Affairs.

At a morning meeting in Taipei, delegates of Taiwan and China finalized the early harvest lists and the text of the ECFA to be signed by top negotiators of both sides when they meet next week.

Wu said that the government has done its best in safeguarding the interests of less-privileged sectors by insisting on a ban against importing Chinese laborers, no increase in the number of Chinese farm exports to Taiwan, and no lowering of tariffs for Chinese agricultural and industrial goods already allowed into Taiwan, including garments, towels, shoes and bedding.

Chinese products on the list are mostly raw materials needed by Taiwan, downstream industrial products that Taiwan does not mass produce, or those for which Taiwan enjoys a competitive edge, such as petrochemicals, machinery and transportation gears, Wu said.

Wu stressed that not only does the number of Taiwanese goods and services surpass that of China's, but that the treatment Beijing is promising Taiwan is better than World Trade Organization (WTO) norms.

In comparison, Taiwan only promises to give preferential treatment to Chinese items on par with WTO levels, the premier said.

Worth mentioning is that 108 Taiwanese goods and services will enjoy tariff-free imports into China immediately after the ECFA takes effect, and China will remove its tariffs for all the Taiwanese goods and services on the “early harvest” list in three phases over two years, according to officials attending the Taipei preparatory meeting for the inking of the ECFA.

The preparatory meeting, headed by Taipei-based Straits Exchange Foundation (SEF) Vice Chairman Kao Koong-lian and his Chinese counterpart, Zheng Lizhong of the Association for Relations Across the Taiwan Strait (ARATS), was held to finalize the text of the ECFA and its “early harvest” items, as well as the text of another agreement on protecting intellectual property rights (IPR).

SEF Chairman Chiang Pin-kung and ARATS President Chen Yunlin will hold their fifth biannual meeting in Chongqing, China on June 29 to sign the two agreements, officials said.

The ECFA will prevent Taiwan from being marginalized amid the global trend toward free trade, Kao said, adding that tariff reductions for Taiwan businesses will help boost the country's exports, employment and economic growth.

For his part, Zheng said the outcome of the ECFA negotiations demonstrates that China has honored its promise of making concessions to Taiwan. For example, Zheng said, China has agreed not to expand its agricultural exports and not to export labor to Taiwan.

If the ECFA is smoothly inked on June 29, it is expected to be approved by the Cabinet on July and then be sent to the Legislative Yuan for deliberation. The legislature is expected to hold an extraordinary session on July 5 to screen the pact.

Subscribe to The China Post and save 25%. Click here

SharePrintEmail

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos
 Respond to this email