ECFA Paints Rosy Picture for Industries Across Taiwan Straits in 2012: Chinese Official

Taipei, Dec. 16, 2011 (CENS)--The industries of both sides of Taiwan Strait are expected to see rosy picture in 2012 as 94% of the products on the ECFA (Economic Cooperation Framework Agreement) fast-track gainer list will be exempted from customs tax, according to Wang Liaoping, chairman of Mainland Association for Cross-Strait Economic and Trade Exchanges (MACETE), who is currently leading a delegation to attend 2011 ECFA business match meeting held in Taipei.

MACETE is China's official organization handling economic and trade affairs with Taiwan and the match meeting is organized by Taiwan External Trade Development Council (TAITRA), the government-backed trade promoter here.

Wang indicated that China has become one of the leading markets in the world, particularly for luxury goods and auto vehicles. Thanks to ECFA, Taiwan witnessed additional exports of US$3.4 billion to China in the first 10 months of this year, with tariff exemptions amounting to US$120 million. He predicted that the bilateral trade between the two sides would exceed US$150 billion in 2011.

W. J. Huang, vice president of TAITRA, disclosed that the delegation led by Wang is composed of 220-plus enterprises from China, Hong Kong and Macao seeking to purchase goods from Taiwan, focusing on auto parts, garments & related textile products, machine tools, hand tools, medical equipment, mini home appliances, chemical materials, marine items, fruits, etc. To meet their demand, TAITRA arranges over 400 Taiwanese suppliers of the said items to meet with them.

Wang emphasizes that the products on the fast-track list are only a small portion of ECFA's product pool. So, he calls for speeding up cross-strait trade talks and arranging more follow-up meetings.