ECFA will benefit both sides: Study
Updated: 2010-01-21 07:39
(HK Edition)
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Researchers call for negotiations on cross-Straits trade pact ASAP
TAIPEI: Although the proposed economic cooperation framework agreement (ECFA) between Taiwan and the mainland will affect various industries differently, it will benefit the economies on both sides generally, according to a research report published yesterday.
However, the report does not provide any figures to specify how big an impact the ECFA would have on the two economies or to what extent it would affect various industries.
The report, which was researched jointly by institutions on both sides of the Taiwan Straits, suggests that Taiwan and the mainland start negotiations on the ECFA as soon as possible, tackling the easier aspects first and taking a gradual and orderly approach.
One of the first matters that should be negotiated is the early harvest program, the report states.
Taiwan's "Ministry of Economic Affairs" has listed close to 500 items on its "early harvest" list for negotiations with the mainland. Some of the sectors considered most likely to be affected by the opening of Taiwan's markets to mainland competition are on the list.
They include the automobile, petrochemical, machine tool and textile industries.
With some industries likely to face competition from imports, the two sides should adopt a phased and flexible approach to opening their markets and setting up trade rules, according to the report, which was researched by Taiwan's Chung-Hua Institution for Economic Research and Beijing-based Chinese Academy of International Trade and Economic Cooperation,the University of International Business and Economics and Nankai University.
China Daily/CNA
(HK Edition 01/21/2010 page2)