Taipei,Oct.5,2012(CENS)--Chuo Shih-chao,vice minister of economic affairs,reported yesterday(Oct.4)that cross-Taiwan Strait consultation on service trade,a follow-up talk on Economic Cooperation Framework Agreement(ECFA),will be concluded by the end of this year.Cultural innovation,logistics,medical and beauty treatment,and financial service will reportedly be included on the priority list for market opening.
At a meeting with Taiwanese businessmen in mainland China,held by Straits Exchange Foundation in Hualien,Chuo pointed out that in addition,talks on commodity trade agreement and agreement on dispute settlement is also progressing smoothly and will be completed next year.
Taiwan and mainland China have reportedly reached agreement to open up the markets for cultural innovation,logistics,and financial service on a priority basis.Medical and beauty treatment may also be included into the first-batch list for market listing.Innovative culture includes popular music,animated cartoon,movie theater,and agency.
Among cross-Strait cooperation for service businesses,the financial industry has the highest wiliness.Currently,14 Taiwanese-invested securities firms,three Taiwanese-invested banks,and two Taiwanese-invested insurance firms have stepped into the Shanghai market.Recently,leasing business has also started to catch on.
Chuo noted that the fourth regular meeting of cross-Strait economic cooperation committee will take place in mainland China by the end of this year.The six panels under the committee,including merchandise trade,investment,customs cooperation,and industrial cooperation,are all engaged in follow-up talks.
Chuo stressed that the government will further review and open up investments of mainland Chinese firms in Taiwan to foster business opportunities associated with cross-Strait cooperation.In view of major changes in mainland China's economic climate,the government will assist Taiwanese businesses in developing core competitiveness and welcome them to return to Taiwan to develop high value-added products.
