Taiwan wants to sign trade pact with China as soon as possible

May 24, 2009, 6:45 GMT

   Taipei - Taiwan President Ma Ying-jeou on Sunday urged China to sign a trade pact with Taiwan as soon as possible, despite objection from Taiwan's opposition party DPP.

   'The two sides should sign the Economic Cooperation Framework Agreement (ECFA) this year or no later than next year,' Ma said at a seminar in Taipei.

   Dismissing the Democratic Progressive Party's fears that ECFA may hurt Taiwan's sovereignty, Ma said it would be purely an economic pact and has nothing to do with (Taiwan's) sovereignty. 'It is not like CEPA,' he said, referring to China and Taiwan's Closer Economic Partnership Agreement.

   Ma said Taiwan should not ignore that fact that China has become Taiwan's top trading partner and the third-largest economy in the world.

'Our government will continue to make the effort to sign the ECFA this year or no later than next year,' he said. 'Our government is seeking to improve cross-strait ties. Last year our trade with china accounted for 40 per cent of Taiwan's export. Currently 70,000 Taiwan companies have invested in China and created 10 million jobs.'

   Taiwan-China ties have been improving rapidly since Ma took office on May 20, 2008 and vowed to seek peace with China so that Taipei could revitalize its economy.

   Taipei and Beijing have been mulling the ECFA for some time to expand trade ties, but the DPP, Taiwan's largest opposition party, has blocked it.

   The DPP has demanded a referendum to let the 23 million Taiwanese decide if the ECFA should be signed.