Taiwan prepares for possible demise of landmark trade pact with China

A Chinese media outlet has suggested at the demise of China’s 10-year-old Economic Cooperation Framework Agreement with Taiwan, the biggest-ever trade pact between the two rivals.

Cutting down tariffs on nearly 800 items on both sides and heralding more to come, the agreement capped two years of trust-building between governments of the two sides that had been in poor connections for decades.

The analysts have said that the exporters in Taiwan, over the past decade, have learnt to decrease their dependence on Chinese market. The deal will expire this year, said a Chinese media outlet.

Commenting on the matter, Huang Kwei-bo, vice dean of the international affairs college at National Chengchi University in Taipei said, “It’s rather hard to imagine that ECFA will be cancelled but because China-Taiwan relations are very poor now and there’s no more of the earlier political foundation for negotiating ECFA.”

The ending of the agreement would mark the biggest undoing of a China-Taiwan deal and would become an extremely hot topic in Taiwan.

Photo Credit : https://commons.wikimedia.org/wiki/File:Flag_of_the_Republic_of_China.svg

Comments are closed, but trackbacks and pingbacks are open.