Taiwan, China to start talks on free trade agreement

Taipei - Taiwan and China will begin negotiations next week on a free trade pact in Beijing next week, authorities said Sunday. The first round of talks on the Economic Cooperation Framework Agreement is scheduled for Tuesday at the Diaoyutai Hotel. It will set the agenda for future talks, the Straits Exchange Foundation said in a statement.

China's free trade agreement with the Association of Southeast Asians became effective on January 1. Beijing and Taipei are now seeking to sign a pact to open up cross-strait trade with reduced tariffs, the statement said.

Taiwan officials hope to sign the deal by May, which they said could also remove obstacles blocking the island from entering into free trade agreements with other countries that recognize China.

Taiwan is recognized by only 23 countries and has signed trade pacts with five of them.

Taipei is seeking free trade agreements with large economies such as the United States, Japan, South Korea and Singapore, but those countries have been held back by fears of offending China.

China has not said whether it will allow countries that recognize Beijing to sign bilateral free trade agreements with Taiwan after a cross-strait deal is signed, but Taipei officials are optimistic.

Source: Earth Times.
Link: http://www.earthtimes.org/articles/show/305439,taiwan-china-to-start-talks-on-free-trade-agreement.html.