World Economy

Taiwan, China Talk Trade

Taiwan, China Talk TradeTaiwan, China Talk Trade

Taiwan and China have restarted talks on adding further goods tariff reductions to their economic cooperation framework agreement (ECFA), despite the long-running dispute over the cross-strait agreement for trade in services that was signed in June last year.  They have agreed to expand and deepen all aspects of the ECFA, including the addition of further import tariff reductions for more goods. Taiwan is concerned that broader concessions will be included in a free trade pact between China and South Korea – one of Taiwan’s main competitors – which it is expected could be signed before the end of 2014.