Whether possessing formal statehood or not, Taiwan like all other 152 members of the World Trade Organization has to elbow its way through foreign trade disputes. Sometimes it loses, sometimes it wins. But it has to abide by WTO regulations, one of which requires the reporting of trade agreements.
The signing of a historic trade pact between Taiwan and China was just the start of a wide range of economic and political tasks for the Taiwanese government to overcome and cautiously review, scholars said.
China and Switzerland on Friday agreed to start free trade agreement (FTA) talks, as the two states celebrate their 60th anniversary of diplomatic ties.
Two Chinese vice ministers of commerce, Gao Hucheng (高虎城) and Jiang Zengwei (姜增偉), have commented on the Economic Cooperation Framework Agreement (ECFA) that was signed by Taiwan and China at the end of June.
South Korea’s ambassador to China said in an interview published Thursday that his nation was likely to open free trade talks with Beijing next year. The negotiations could be a first step toward a three-nation trade zone including Japan, which would rival the European Union and the North American Free Trade Agreement in size.
It has been announced that Taiwan and Singapore will initiate talks later this year on the feasibility of signing a bilateral economic cooperation agreement under the framework of the World Trade Organization. It was said that the trade agreement would not be called an FTA in order to avoid giving any problem to China.
Japanese industries are very interested in the recently signed Economic Cooperation Framework Agreement between Taiwan and China as a way to enter China.