In the News

ECFA follow-up pacts set for discussion

SEF Vice Chairman Kao Koong-lian (right) and his ARATS counterpart Zheng Lizhong may soon be raising their glasses to freshly concluded ECFA follow-up agreements spanning investment protection, trade in goods and services, and a mechanism for settling commercial disputes. (CNA)

• Publication Date：05/28/2012
• Source： Taiwan Today
• By  Meg Chang

Taipei-based Straits Exchange Foundation and its mainland Chinese counterpart the Association for Relations Across the Taiwan Straits will hold the eighth-round of talks next month in Taipei City.

During the biannual meeting, representatives are scheduled to review progress on projects and measures implemented under the Cross-Straits Economic Cooperation Framework Agreement (ECFA), according to the ROC Ministry of Economic Affairs May 27.

Talks on follow-up agreements spanning investment protection, trade in goods and services, and a mechanism for settling commercial disputes are high on the meeting’s agenda.

The MOEA said the arrangements pertain primarily to the public sector, but both sides have agreed to extend these to the private sector given the increasing frequency of complaints arising in the normal course of trade.

“Since nearly 50 percent of Taiwan firms invest in mainland China through a third country, the investment protection pact will also include these businesses,” an MOEA official said.

The MOEA has been working to assist Taiwan firms experiencing contract or regulatory difficulties on the other side of the strait. Its service center offering legal consultation has received praise from industry representatives for helping companies successfully fight for their business rights.

“The ministry will continue conducting cross-strait trade negotiations based on the principles of dignity, reciprocity and mutual benefit,” the official added. (JSM)

Write to Meg Chang at sfchang@mail.mofa.gov.tw