Cross-Strait economic talks open in Taipei

The Cross-Strait Economic Cooperation Committee (ECC) on Thursday morning opened its seventh regular meeting in Taipei to review the implementation of a landmark trade agreement signed by the mainland and Taiwan in 2010.

Zheng Lizhong, executive vice president of the mainland-based Association for Relations Across the Taiwan Straits, and Shih Hui-fen, vice chairperson of Taiwan's Straits Exchange Foundation, serve as the conveners of the twice-yearly meeting.

"The institutional construction of economic cooperation across the Strait witnessed disturbance in 2014, but progress is expected for the ECC in the new year," said Zheng during an opening address.

He said he hoped the ECC can "respond positively to demands of industries from Taiwan and the mainland, inject vigor into cross-Strait cooperation" and help share the benefits of this economic cooperation among people on both sides of the Strait.

The mainland delegation is headed by Zheng and Gao Yan, ECC chief representative and vice commerce minister.

The one-day meeting will review the Economic Cooperation Framework Agreement (ECFA) and hear reports from working groups on goods and service trade, investment, dispute settlement, industry, and customs cooperation.

Other key issues on the agenda include the establishment of economic and trade associations, the economy and future plans.

The ECFA has brought mutual benefit for the mainland and Taiwan, said Shih, urging the two sides to work together to negotiate their trade-in-goods pact under the agreement.

The ECC is a negotiation platform established in January 2011, following the 11th provision of the ECFA, to handle follow-up negotiations.

Under the agreement, the committee holds a meeting around every six months, with the two sides taking turns to host it. The last meeting was held in August 2014 in Beijing.