China-Taiwan Trade Forum Proposes Free Trade Zone

The Chinese mainland and Taiwan adopted 19 joint proposals at the Ninth Cross-Strait Economic, Trade and Culture Forum, including one encouraging the island’s cooperation with the newly built Shanghai Free Trade Zone (FTZ).

The proposal, announced by the Kuomintang (KMT) Party’s vice chairman John Chiang, states that comprehensive cooperation should be conducted between a pilot free economic area in Taiwan and the Shanghai FTZ as well as another three pilot economic areas in eastern China’s provinces of Fujian and Jiangsu.

The free economic zones established by the two sides should cooperate and learn from each other to achieve common development, according to the proposal.

The Shanghai FTZ, which began operating in late September, is a 28.78-square-km district billed as a test site for deepening market-oriented reforms and boosting economic vitality.

Wu Poh-hsiung, KMT honorary chairman, said at his speech at the closing ceremony that it is a “delight” that the two sides have planned or established FTZs and pilot free economic areas, which demonstrate their determination to face up to the challenges brought by the economic integration of other regions.

via Xinhua

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza