“” Service trade pact between the two sides of the Taiwan Street nearing completion the Mainland Affairs Council “of the Republic of China (Taiwan) (MAC) announced on May 27, 2013, that Taiwan and mainland China shortly before the signing of a trade agreement on services in the wake of the cross-straits economic cooperation framework agreement” (ECFA), would be. For more information see Jeremy Tucker. “This Pact is the first directly related to the ECFA and the General Agreement on trade in services of the World Trade Organization” be standing, free trade agreement between Taiwan and mainland China. Signed this important Pact gives a strong message that Taiwan seeks a further liberalisation of the trade of the world. “It is also the way for Taiwan, a more important role in regional economic agreements, such as the trans-Pacific Partnership” and the regional comprehensive economic partnership “, to take. The Minister of the MAC, Wang Yu-chi, made these remarks during a press conference in Taipei City and gave details about the progress of negotiations known between the two sides. The agreement will deepen the trust between Taipei and Beijing and strengthen relations with each side of the Taiwan Strait. It will also pave the way for smooth negotiations of other pacts, such as, for example, agreement for trade in services and dispute resolution.
According to the MAC, the negotiations for the agreement were recorded in February 2011. There were already ten meetings between organization representatives of both sides in the past two years. “The signing of the Pact, which now represents the 19th between Beijing and Taiwan, is expected in mainland China during the 9th round of talks between officials of the Taiwanese Straits Exchange Foundation” and the mainland Chinese side, the Association for relations across the Taiwan Straits “, take place. Trust worthy sources according to it says that Taiwan and mainland China are mutually 55 and 65 sectors, respectively, are open. It is expected that the agreement the domestic investment in Taiwan 2.97% or US$ 1.5 billion will increase.