The second cross-strait Economic Cooperation Committee meeting wrapped up Nov. 1 in the mainland Chinese city of Hangzhou, with Taipei and Beijing exchanging ideas on a raft of trade cooperation issues.
Led by Deputy Minister of Economic Affairs Liang Kuo-hsin and his mainland Chinese counterpart Jiang Yaoping, representatives from the two sides focused on reviewing implementation results of the early harvest list negotiated under the Cross-Straits Economic Cooperation Framework Agreement (ECFA).
Delegates also discussed bilateral industrial and customs cooperation, agreeing to take turns hosting a cross-strait industrial forum and set up five task forces overseeing collaboration in electric vehicles; light-emitting diode, or LED; refrigerated transportation; thin-film-transistor liquid-crystal displays; and wireless cities.
Other areas of progress during the one-day meeting include further promoting industrial exchanges through the phased opening of reciprocal business association offices, and drafting a six-month schedule for discussing pending agreements in dispute settlement, investment protection and goods and services trade.
MOEA statistics reveal that for the first nine months of the year, Taiwan’s exports under the ECFA early harvest list were US$3.09 billion, saving US$92.06 million in tariffs. During this period, the island imported US$759.4 million in goods covered by the list, with tariff concessions totaling US$16.49 million.
According to the MOEA, economic benefits stemming from the ECFA will increase substantially for Taiwan after tariffs on over 90 percent of items covered by the list are eliminated Jan.1, 2012. (JSM)
Write to Meg Chang at meg.chang@mail.gio.gov.tw