One year has passed since ECFA (Economic Cooperation Framework Agreement) came into effect. Data from Taiwan indicates ECFA has played an important role in improving Taiwan’s primary and secondary industries, employment and overall competitiveness. Signs also show that these benefits are becoming more widespread.

The editorial published in Taiwan Economic Daily News on Sept. 12 said that by the first anniversary of ECFA, its benefits would have been gradually visualized. Meanwhile Taiwan authorities “should put forth more meticulous policies and play a more active role if it wants to get maximum benefits from ECFA”.

This editorial indicates the benefits of ECFA to the economy of Taiwan are directly reflected by its trade of goods: the boost in price competitiveness has promoted cross-Straits trade and the importers and exporters received 9.24 million dollars and 53.71 million dollars respectively worth in benefits from tariff reductions and exemption in the first two quarters of this year.

Taiwan has experienced growth due to its overall competitiveness and investment environment under the influence of ECFA, said the International　Institute　for　Management　Development (IMD), World Economic Forum (WEF) and other famous institutions.

An analysis published in United Evening News pointed out that in the first seven months of this year, the ratio between the amount of the orders received by Taiwan and the amount of products produced in Taiwan (i.e. the ratio of export amount relative to export orders) markedly increased. Thus it may be seen that the economic normalization and liberalization across the Straits helped attract the return (investment) to Taiwan.

Reporters of China News Service attended a media delegation led by Taiwan-based Cross-Straits Exchange Foundation (SEF) president Chiang Pin-kun from October 8 to 11 and September 7~8. He went to the counties and cities in Central and Southern Taiwan to observe the execution of the preferential policy of ECFA for early harvest goods.

At present, the industrial circles of Taiwan are paying great attention and looking forward to following up merchandise trade, service trade and other substantial negotiations. Chiang Pin-kun stressed to the media that ECFA was just a framework and would be followed by negotiations on Bilateral Investment Agreement, merchandise trade, service trade, dispute settlement mechanism and other agreements with higher difficulty; and related negotiations should be quickened rather than paused and should be more readily passed.