TAIPEI, June 15 (Xinhua) -- Taiwan experts and local officials expect a cross-Strait economic pact likely to be reached soon to redistribute resources and restructure the economy across the Taiwan Strait.
The Economic Cooperation Framework Agreement, or ECFA, will send the signal that economic relations across the Strait will steadily develop, Bih Jane Liu, vice president of Chung-hua Institution for Economic Research, a think tank in Taiwan, said at a seminar here Tuesday.
"This signal is very important for investors so they can design a long-term development strategy across the Strait," Liu said.
The two sides finished the third round of ECFA experts' meeting in Beijing last weekend. Both sides hope to sign the pact in June.
The ECFA is intended to normalize mainland-Taiwan economic ties and bring the two economies closer.
Through the ECFA, companies will be able to rearrange their resources on both sides of the Strait so both Taiwan and the mainland can play to their full advantages, Liu said.
"In fact, it will give both sides a good chance to restructure their economies. They both strongly depend on exports and labor-intensive industries, which face some challenges now."
For Taiwan, it can act as a cushion for foreign investors before they enter the mainland market, she said. |
