ECFA Signed On Both Sides

Taiwan province tariff 1 billion US dollars

According to the early checklist of ECFA, there are 539 items in Taiwan, 2 times that of mainland products. Taiwan's products include petrochemicals, textiles, transport vehicles (including automotive components), machinery and other products. There are also 18 agricultural products, 8 non-financial services and 3 financial services. It is reported that the contents of the ECFA early checklist will be reduced by 3 years in 2 years, and will eventually be zero tariff.

The Taiwan side expects that after the formal signing of ECFA between the two sides of the Taiwan Strait, 22700 SMEs will benefit from Taiwan, especially 539 industries listed in the early checklist, which is expected to save about 1 billion US dollars a year. Taiwan believes that without tariff restraint, it will not only increase the competitiveness of Taiwanese businessmen in the mainland market, but also help Taiwan's industry transform again.

The two sides agreed that this is an agreement of equal consultation, mutual benefit and win-win, and it will also be an agreement of mutual understanding and mutual accommodation and full release of goodwill, which will help to eliminate obstacles to mutual cooperation and create a fair trade and investment environment.

When will ECFA take effect in Taiwan?

As the Taiwan Democratic Progressive Party tried to stop the signing of ECFA, it became the focus of attention for ECFA to enter into force in Taiwan. In response, Jiang Bingkun said that when he arrived in Taiwan in June 30th, he immediately sent the text of ECFA to the "Mac" and tried to reach the "Legislative Yuan" in Taiwan quickly. Consideration Pass.

According to Taiwan media reports, yesterday, Wu Dunyi, President of Taiwan, said that he hoped to convene a provisional meeting in early July to deal with ECFA. As for the 4 legal amendments, he hoped to complete the "amendment" procedure before the end of the year.

"Not only Korea, but also our Japanese are worried that ECFA will be marginalized in the economic circle of East Asia after the signing of the ECFA," a source of Japanese Yomiuri Shimbun reporters who showed up yesterday, expressing anxiety about the Japanese enterprises.

According to ECFA, mainland China will gradually reduce 539 commodities in Taiwan. Mainland market Tariffs, which cover 17% of the Chinese market, are highly competitive among Japan, Korea and Taiwan. Japan and South Korea fear that the signing of ECFA will make the two countries lose competitiveness.

This contrasts sharply with the exultation of officials and people on both sides of the Straits. The two sides agreed that the signing of ECFA marked "a new milestone in the cross straits relations", marking the further expansion and integration of the "Greater China Economic Circle".