Experts optimistic on ECFA prospect

The 2010 Cross-Taiwan Strait Financial and Trade Forum has opened in Xiamen, Fujian Province. Economists from the Chinese mainland and Taiwan are discussing key issues including the Economic Cooperation Framework Agreement, or ECFA. As Qi Tianxing finds out, most experts are optimistic about the prospect for economic cooperation between the mainland and Taiwan.

Some experts say as the global economy recovers from the financial crisis, Taiwan should step up efforts to boost its economy by taking advantage of the vast market on the Chinese mainland.

Zhang Wuyue, director of Inst. of Mainland Studies, Tamkang Univ.,said, "Some developing countries are leading the world economic recovery. Taiwan has a great chance to develop its economy, not only because of the easing political atmosphere, but also because economic cooperation between the mainland and Taiwan is becoming more regular and systemic."

Many analysts believe that signing the ECFA will benefit both Taiwan and the mainland.

Liu Bizhen, dep. director of Chung-hua Inst. for Economic Research,said, "Once the deal is signed, more opportunities will emerge for companies from both Taiwan and the Chinese mainland. They can cooperate in branding and manufacturing and tap into the international market together."

Analysts say the lack of a regular mechanism is a bottleneck for cross-strait economic cooperation.

Hong Du, executive director of Cross-Strait Common Market Foundation, said, "We need a mechanism to make the cooperation normal and regular. ECFA will provide us with such a possibility. It is a good framework."

The Chinese mainland is the biggest trading partner for Taiwan. Two fifths of the island's products were sold on the mainland last year.