On August 17, Taiwan’s local legislature approved an economic and trade agreement with the Chinese mainland despite the boycott of the opposition Democratic Progressive Party (DPP).
Lawmakers of DDP and Kuomintang Party : KMT gave a major concession by agreeing to screen the economic cooperation framework agreement (ECFA) article by article of the 16 articles in the agreement. KMT members then outvoted their DPP counterparts in every showdown. But DPP legislators decided to boycott the second and final reading of the agreement.
Legislative Speaker Wang Jin-pyng announced the official passage of the ECFA and five attached documents, including products and services on the “early harvest” lists entitled to tariff reduction or elimination at an earlier date, rules on origin of products, relief measures on trade, and definitions for service providers. He also said the ECFA became the first item cleared by the legislative floor in the extraordinary legislative session. Only bills of laws and budget plans require three readings by the lawmakers,
Officials at the Ministry of Economic Affairs said they expect the ECFA to be implemented simultaneously by Taiwan and China next month. But the reduction and elimination for import customs tariff rates on selected products will go into effect on 1 January 2011. In addition, two sides will soon establish a mechanism for regular consultation, including the formation of a cross-strait economic cooperation conference to review trade practice in the post-ECFA era for revisions of trade policies in future talks.
Within six months after the ECFA takes effect, the two sides will start negotiations on investment protection, a mechanism to settle disputes, service trade, and merchandise trade. The new negotiations will be carried out bythe Taipei-based Straits Exchange Foundation (SEF) and the Beijing-based Association for Relations Across the Taiwan Strait (ARATS) with participation of officials from the two sides. SEF Chairman Chiang Pin-kung said trade offices to be set up on both sides of the Taiwan Strait under the ECFA will facilitate business exchanges between the two sides. He also said that trade organizations like the Taiwan Electrical and Electronic Manufacturers Association and the Taipei-based Chinese National Federation of Industries will be able to set up offices across the strait under the ECFA. The new policy will benefit Taiwanese businessmen with operations in China, Chiang said
ที่มา : สนร.ไทเป ข่าว China Post
