The Straits Exchange Foundation (SEF) yesterday said the cross-strait agreement on service in trade, scheduled to be signed in Shanghai on Friday, will create a win-win situation for Taiwan and China, dismissing concerns about its impact on local businesses.
Foundation Vice Chairman Kao Koong-lian (高孔廉) said 60 industries in Taiwan will be opened to Chinese investments, while China will open up more than 70 industries.
The Taiwanese industries include the banking, wholesale and service sectors, while China will open up its transportation, finance, medical and travel industries, he said.
“The agreement will have less impact on Taiwan than on China,” he said at a press conference held at the foundation’s office in Taipei.
A total of 83 percent of the deal opens service sectors to the same or greater degree as the Closer Economic Partnership Arrangement (CEPA) that was signed between Hong Kong and China in 2003, with 90 percent of financial services covered in the cross-strait agreement open as in the CEPA, he said.
“We definitely got what we wanted [in the negotiations], and we also made some concessions. Overall, the adverse impact on us will be much smaller,” Koo said.
The agreement is a follow-up to the Economic Cooperation Framework Agreement (ECFA), which was signed in June 2010.
During the ninth round of cross-strait negotiations on Friday, the two sides will touch on the issue of establishing representative offices.
The Mainland Affairs Council said the government is seeking to establish representative offices in Beijing, Shanghai and Guangzhou. China wants to set up an office in Taipei. The two sides will continue to negotiate details of the plan.