Chinese Mainland and Taiwan Region Agreed on Removing or Reducing Trade Tariff

On June 14, 2010, Mr. Francis Kuo-Hsin Liang, Vice Minister of the Ministry of Economic Affairs, Taiwan Region (MOEA), said that Chinese mainland and Taiwan region have reached a consensus on the removal or reduction of the trade tariff across the Taiwan Straits.

According to Mr. Francis Kuo-Hsin Liang, both sides of the Taiwan Straits will continue negotiations to nail down the final agreement, hoping to sign it at the fifth talks.

Chinese mainland has agreed to remove or reduce the tariff on about 500 kinds of commodities originating in Taiwan region, while Taiwan region has also agreed to remove or reduce the tariff on about 200 kinds of mainland commodities.

Previously, the negotiators from both sides of the Taiwan Straits and Chinese Mainland have reached a basic consensus on the content and framework of the Economic Cooperation Framework Agreement (ECFA) on June 13, 2010.