Taiwan

Landmark cross-Strait economic pact to take effect Sunday

(Xinhua)
Updated: 2010-09-11 15:34

BEIJING - The Economic Cooperation Framework Agreement (ECFA) the Chinese mainland and Taiwan signed in June will take effect Sunday.

The mainland's Association for Relations Across the Taiwan Straits (ARATS) and Taiwan's Straits Exchange Foundation (SEF) have notified each other they have completed preparations and confirmed that the agreement will take effect September 12, the ARATS said in a statement Saturday.

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The agreement on intellectual property rights protection will also take effect on Sunday, the statement said.

The two agreements were reached at the ARATS-SEF meeting on June 29 in Southwest China's Chongqing Municipality.

The ECFA aims to establish a systematic mechanism for enhancing cross-Strait economic cooperation. Under the 16-article agreement, the two sides agreed to gradually reduce and remove trade and investment barriers.