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Tuesday, June 29, 2010

BBC News - Taiwan and China to sign landmark trade pact

BBC News - Taiwan and China to sign landmark trade pact

China and Taiwan are due to sign a landmark trade pact, considered the most significant move in cross-Strait ties in 60 years.

The Economic Co-operation Framework Agreement (ECFA) - to be signed later in the Chinese city of Chongqing - will remove tariffs on hundreds of products.

It is likely to boost bilateral trade already totaling about $110bn (£73bn) a year.

About $80bn in goods flows to China, and $30bn to Taiwan.

The deal is seen to benefit export-reliant Taiwan the most economically. More...
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It is amazing to watch the continued thawing of relations between China and Taiwan. Inter-strait relations were quite tense just a few years ago when Taiwan's pro-independence party was in power. Now with the Nationalist Party in power Sino Taiwanese relations are warming.

John H. Armwood

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