Vice Premier Sean C. Chen said June 15 that products included on the cross-strait economic cooperation framework agreement’s early harvest list will receive more favorable tariff treatment than that offered to most World Trade Organization members.
Terms concluded in the latest round of ECFA talks, according to Chen, ensure that goods and services on the list will receive concessions beyond WTO requirements.
As to whether all petrochemicals and machine tools are covered on the list, Chen said it is the nature of an early harvest list for the number of items to be limited. If all goods and services were covered at once, it would not be an early harvest list, nor would the agreement be a framework. There is still much follow-up work to be done, he said, “but the government is hoping to harvest more items beyond the current 500 or so.”
President Ma Ying-jeou said details of the early harvest list have not been finalized, but it will include sectors that need preferential treatment. He urged industry representatives to be patient, as the early harvest list is just a beginning. As trade talks continue, more products will be granted tariff concessions, he added. (AW-THN)