Description

On June 29, 2010, representatives from Taiwan and mainland China met in Chongqing and signed the Cross-Straits Economic Cooperation Framework Agreement, creating an institutionalized negotiation mechanism and ushering in a new era of normalized economic relations. That year, Taiwan’s economy grew as much as 10.88 percent, the highest in 23 years.

To further expand economic exchange, Taiwan and the mainland began negotiating several follow-up agreements to the ECFA, including trade in goods and trade in services.

The U.S., EU and other major economies have reacted positively to the ECFA, expressing faith that it would promote prosperity in the Taiwan Strait and peace in the international community.

This picture shows Premier Wu Den-yih speaking at a seminar on cross-strait economic and trade negotiations on March 20, 2010.