Chiang said, "There were not many projects underway at the beginning. Mainland investors are still not familiar with some procedures of investing in the island."
The Economic Cooperation Framework Agreement is a landmark pact on trade between the Chinese mainland and Taiwan. The ECFA covers issues like tax cuts on commodities trade, service trade as well as investment. It aims to promote normalization of cross strait economic and trade relations and to prevent Taiwan from being economically marginalized in Asia.
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The ARATS and its Taiwan counterpart the SEF, discussed labor cooperation in the fishing industry, in inspections and quarantine of agricultural products, standard measuring, and certification.
By the end of 2008, China´s mainland had approved 77 thousand investment projects from Taiwan. Cross-straits trade topped 800 billion yuan. The Mainland was then the Taiwan´s biggest investment destination.
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