Chinese mainland and Taiwan have decided to hold the fifth round of cross-strait talks next week, during which they expect to sign a land mark agreement on economic cooperation.
Negotiators from the Mainland and Taiwan met on Thursday in Taipei. There they decided the schedule to reach a deal on trade, known as the Economic Cooperation Framework Agreement, and also a pact on intellectual property protection. The date is June 29th, and the location is southwest China's Chongqing municipality.
Zheng Lizhong, Vice President of the mainland's Association for Relations Across the Taiwan Straits, said the two sides have agreed to reduce the trade and investment barriers under the WTO rules, based on each other's economic conditions.
Zheng Lizhong, Vice President of ARATS said "The mainland has promised and fully considers the needs of Taiwan people when it comes to the tariff reduction scheme."
Kao Koong-lian, Vice Chairman of Taiwan-based Straits Exchange Foundation, said signing the deal will help Taiwan to consolidate its economic growth.
Kao Koong-Lian, Vice Chairman of SEF said "The significance of signing ECFA is to seek fair competition and to promote economic development for Taiwan."
The ECFA is seen as a landmark deal between the two sides. But the negotiators also point out that this is only the first step for economic cooperation, and more work still needs to be done after the agreement is signed.
