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Taiwan economists are welcoming the Economic Cooperation Framework Agreement after the mainland and Taiwan reached consensus on the deal.
The signing of ECFA will formalize trade between the mainland and Taiwan. The decrease of tariffs set out in the agreement will make the mainland market more open for Taiwan enterprises. ECFA will lower the threshold for Taiwan companies to enter the mainland market and strengthen the competitiveness of their products.
It's expected that the details of collaboration between mainland and Taiwan industries will become more specific as the agreement takes effect.