President touts Taiwan-China trade pact

Taipei, Jan. 30 (CNA) President Ma Ying-jeou touted a proposed Taiwan-China trade pact in the latest edition of his weekly electronic journal posted Saturday, saying "the signing of the deal will help Taiwan businesses become stronger to compete globally." Ma said signing an economic cooperation framework agreement (ECFA) with China would be like putting on spikes and allow Taiwan to run as fast as the wind amid fierce competition in the world market.
"The government hopes to pave the way for Taiwan's industry to become globally competitive by signing an ECFA," the president said.
Without having inked any free trade agreements (FTA) with Asian countries, Taiwan is now at a "great disadvantage" in terms of exports to other countries in the region, the president said.
"Though Asian countries have forged a total of 58 FTAs, Taiwan has not been involved in any of them," he noted.
But an ECFA would help Taiwan-made products enjoy lower tariffs on outbound shipments to China and help companies retain operations at home, saving jobs for local workers, he argued.
"Taiwan's economy must adapt to the changing times to turn the disadvantage into an opportunity." (By S. H. Lee and Flor Wang)

Updated : 2021-04-16 15:29 GMT+08:00