Cross-straits talks in Shanghai

Ready to reach a trade agreement. On Thursday, envoys from the Association for Relations across the Taiwan Straits and the Straits Exchange Foundation arrived in Shanghai. The two sides are expected to sign a cross-Straits service trade agreement at the upcoming talks, wrapping up two years of negotiations.

Chen Deming, President, Assoc. For Relations across The Taiwan Straits, said, "We believe the agreement will benefit the service sectors on both sides, complement each other's advantages, and help improve our international competitiveness."

Lin Join-Sane, Chairman, Straits Exchange Foundation, said, "The two sides have had very close trade ties with each other. The trade volume across the Straits has reached more than 160 billion U.S. dollars each year."

On Thursday afternoon, a preparatory consultation was held for the official trade talks scheduled on Friday.

The proposed service trade pact is actually a major follow-up to the Economic Cooperation Framework Agreement signed by the two sides in 2010. The talks this time will be the ninth since the two sides resumed contact in 2008 after a nine year suspension.