TAIWAN-CHINA PACT

 

Taiwan seals trade hug with mainland

Olivia Chung

Asia Times, July 1, 2010

A trade pact signed on Tuesday between mainland China and Taiwan has brought the economies of the political rivals to their closest in the six decades since they split amid civil war.

The Economic Cooperation Framework Agreement (ECFA) includes an "early harvest" list of goods and services, with 539 Taiwanese products, worth US$13.8 billion or 16% of Taiwan’s exports to China last year, likely to receive zero tariff rates in the mainland within the next two years. In the other direction, 267 mainland products, worth $2.86 billion or about 10.5% of mainland exports to Taiwan, receiving the same treatment across the Taiwan Strait.

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