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ECFA promotes closer ties

08-19-2010 09:28 BJT

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The Economic Cooperation Framework Agreement, or ECFA, between the mainland and Taiwan is dedicated to promoting closer ties across the strait since it came into being.

In December 2009, the mainland's Association for Relations Across Taiwan Straits and Taiwan's Straits Exchange Foundation held the landmark fourth round of talks in Taiwan. This discussion bore the principles of ECFA.

Since then, the two organizations held three further negotiations, where both sides drew up the general structure of the pact and reached a basic consensus over its text. On June 29th, this year, the ECFA was signed in Chongqing.

The pact covers major economic activities between the two sides, including trade and investment, economic cooperation and the early harvest programme. It also specified the rules to establish relevant institutions and dispute settlement mechanism.

Editor:Zhang Jingya |Source:

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