Taiwan entrepreneurs upbeat on ECFA

Taiwan business delegates at this year's BOAO Forum, are calling for the signing of the Economic Cooperation Framework Agreement, or ECFA. They believe the deal will enhance cross-strait economic ties.

At a roundtable meeting at the BOAO Forum, economists and business leaders from the mainland and Taiwan called for closer economic cooperation. Economists from Taiwan also believe, the ECFA will boost the island's economic growth, and create jobs.

Christiana Y.Liu, Taiwan Economist, said, "Signing the ECFA is actually like road paving work. If the task is completed successfully, we will see a broader range of business opportunities, the deal could bring to us."

Cheng Hsiuang Chiu, Chairman of Bank Sinopac, said, "The ECFA is actually a very good step in helping the mainland and Taiwan cut transaction costs."

Tina Y. Lo, Managing Director, Industrial Bank of Taiwan, said, "I believe the cross-strait ECFA is not just something signed between the mainland and Taiwan. The ultimate goal of the deal is to combine the advantages that the 2 sides have, and eventually make the overall competitiveness of the Chinese economy stronger, and to give it a place on the global stage."

Taiwan's commerce sector expects the agreement will improve cross-strait cooperation in ocean shipping, financial services, and environmental protection.

It's expected that both sides will hold ECFA technical discussions at the 5th meeting of the heads of their cross-strait associations, which is expected to take place in the first half of this year.