Progress of China’s preferential trade deal with Taiwan has been held up after its service trade pact was stalled by the island’s divided parliament. Officials warn that further delays could have a devastating effect on Taiwan’s economic future.
Channel News Asia
By: Victoria Jen, Channel NewsAsia’s Taiwan Correspondent
Date: 29 Jun 2015
TAIPEI: Monday (Jun 29) marks the fifth anniversary of the signing of the Economic
A general view shows cargo containers at Taiwan’s northern Taipei Port which lies south of the Tamshui River, in the Bali district of New Taipei City. TAIPEI: Monday marks the fifth anniversary of the signing of the Economic Cooperation Framework Agreement between China and Taiwan that aims to reduce tariffs and commercial barriers between the two sides.
Cooperation Framework Agreement (ECFA) between China and Taiwan that aims to reduce tariffs and commercial barriers between the two sides.
However, progress of China’s preferential trade deal with Taiwan has been held up after its service trade pact was stalled by the island’s divided parliament. Officials warn that further delays could have a devastating effect on Taiwan’s economic future.
The signing of ECFA in 2010 was a historical moment for cross-strait development and has bolstered cross-strait trade. For instance, bicycle shipments to China soared more than tenfold since 2010, to nearly 140,000 units last year.
Other duty free products under the initial list, which covers 6% of the island’s export items, have also enjoyed greater growth in the mainland. [FULL STORY]
