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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