TAIPEI: Yesterday, Taiwan leader Ma Ying-jeou once again touted the need to sign an economic cooperation framework agreement (ECFA) with Beijing, saying such a pact will help maintain trade across the Taiwan Straits in a systematic and orderly manner.

"Many countries around the world have been actively negotiating bilateral or multilateral free trade agreements (FTA), we cannot afford to buck this trend," Ma said at the opening of a global business conference.

Noting that the proposed ECFA with the mainland is similar to the provisions of FTAs among other economies, Ma said he believes the cross-Straits ECFA can help pave the way for Taiwan to participate in international organizations and multilateral economic integration.

Addressing the 400-plus participants in the seventh Global Chinese Business Leader Summit, sponsored by the Taipei-based Global View Monthly, Ma noted that cross-Straits commercial exchanges have grown even more robust in the past year.

The mainland used to account for about 24 percent of Taiwan’s exports, but the figure has now grown to 40 percent, Ma said, adding that the number of direct cross-Straits flights has also increased to 270 per week.

"All these figures indicate the vitality of cross-Straits trade," Ma said.

However, increased economic exchanges require a well-designed framework or system to handle many important issues, such as tariff concessions and investment disputes, in an orderly way, he added.

Ma said that after signing many critical agreements on direct cross-Straits transport links, food safety and judicial assistance in previous rounds of high-level talks, the two sides will discuss many other topics, including fishery cooperation, product inspection criteria and avoidance of double taxation, in the upcoming fourth round of talks, he added. 
                                                                                                  Source: China Daily