Taiwan and China service trade pact to complete the service trade pact between each side of the Taiwan Strait opened the new possibilities between the Straits Exchange Foundation (SEF), “from Taipei City and the Association for relations across the Taiwan Straits” from Beijing was closed, will launch a new era of bilateral exchanges, so the SEF chairman Lin join-sane on June 21. The agreement is the first signed free trade pact within the framework of cross-straits economic cooperation framework agreement (ECFA)”and of the General Agreement on trade in services (GATS)”Represent the WTO”, said Lin. We expect that this a favorable environment for bilateral investment, trade, economic liberalization and the opening up of markets.” Lin, who mentioned this at the last meeting of the SEF and ARATS in Shanghai, concluded this agreement, which is a process of 2 years, with the ARATS Chairman Chen Deming. According to Lin, he will Services trade pact to help Taiwan and China for the other side between 60 and 80 sectors are open. At the same time could be expected, that initiated a modernization in the services industry, create more jobs and business opportunities, he added.
The concession of both parties of to favorable economic and trade relations between the two sides of the Taiwan Street is represented by the respect of objective differences in the respective legal regulations, industrial development and the entire economy”, said Lin. The Pact, which is in agreement with the spirit of the WTO of a gradual trade liberalization, shows that both Taiwan and mainland China committed to an opening of its markets and paving the way for the development and promotion of niche markets through service providers,”said Lin. Lin expressed his conviction, that is this development in accordance with the method of the Blocks making”to join in regional trade pacts such as the trans am and the regional comprehensive economic partnership. According to Lin, the SEF and the ARATS is also came to an agreement, as soon as possible in the trade in goods and the tax exemption, as well as in the development of a dispute settlement mechanism to record conversations. Highest priority for both sides until the next meeting of the SEF and ARATS in Taipei at the end of the year in the fulfillment of these goals, he said. Other issues of mutual interest, so Lin, were appealing to the 18 other agreements concluded between the Strait of Taiwan, the Taiwan’s development to the point for mainland Chinese tourists and others, visit the other States, increasing the number of offices that support independent mainland Chinese tourists during the trip to Taiwan, the elaboration of a rear yaw mechanism for Taiwanese economic criminals, the protection of nationals detained in mainland China the Republic of China and the Strengthening cooperation in the area of food safety and protection of investment between each side of the Taiwan Strait. Cooperation is the key to mutual benefits and mutual trust is the key to the creation of a win-win situation for both sides,”said Lin. The overall responsibility of the SEF and ARATS is to promote peaceful and stable relations between both sides of the Taiwan Street under the consensus of 1992 and the implementation of change in the best interests of the people on each side of the Taiwan Strait.”