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ECFA to take effect today

ECFA to take effect today

A sweeping trade agreement between Taiwan and China will take effect today, according to a semi-official Taipei agency charged with handling mainland ties.
The Economic Cooperation Framework Agreement (ECFA), the most ambitious pact ever between the two sides, will come into fruition following approval by Taiwan's parliament last month, the Straits Exchange Foundation said.
Taiwan's Beijing-friendly government has said ECFA, which was signed in late June, will bring higher growth and more employment to the export-dependent island.
The island's opposition, which favors formal independence from China, has argued that ECFA will make Taiwan more reliant on the mainland, while it will have no obvious economic benefits.
Lai's confidence
Taiwan and China will be able to develop government-to-government links under the economic cooperation framework agreement (ECFA) signed in June, which will help boost mutual understanding and goodwill, a Taiwanese official said in the Belgian capital Friday.
Such direct contact will facilitate the resolution of differences and other contentious problems existing between the two sides, Mainland Affairs Council Chairwoman Lai Shin-yuan said at the Asia-Pacific Security Forum, co-hosted by the European Institute for Asian Studies and the Taiwan-based Institute for National Policy Research.


Updated : 2021-07-27 00:30 GMT+08:00