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Cross-Strait economic pact takes effect Sunday

(Xinhua/agencies)
Updated: 2010-09-11 15:34

BEIJING - The Economic Cooperation Framework Agreement (ECFA) the Chinese mainland and Taiwan signed in June took effect Sunday.

Supporters of the economic cooperation framework agreement (ECFA) celebrate on the streets in Taipei August 18, 2010.[Agencies]

The mainland's Association for Relations Across the Taiwan Straits (ARATS) and Taiwan's Straits Exchange Foundation (SEF) have notified each other they have completed preparations and confirmed that the agreement will take effect September 12, the ARATS said in a statement Saturday.

Chen Yunlin (right), chairman of the mainland's Association for Relations Across the Taiwan Straits, toasts with Taiwan's Straits Exchange Foundation Chairman Chiang Pin-kung during the signing ceremony of a cross-Straits trade deal in Chongqing Tuesday, June 29, 2010. [Agencies]

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The agreement on intellectual property rights protection will also take effect on Sunday, the statement said.

"We believe the implementation of the pact will further promote exchanges and cooperation in cross-strait trade and help cross-strait economies develop together," Ministry of Commerce spokesman Yao Jian said in the statement on the ministry's website On Saturday.
The two agreements were reached at the ARATS-SEF meeting on June 29 in Southwest China's Chongqing Municipality.

The ECFA aims to establish a systematic mechanism for enhancing cross-Strait economic cooperation. Under the 16-article agreement, the two sides agreed to gradually reduce and remove trade and investment barriers.