The cross-strait economic cooperation framework agreement will make Taiwan a springboard for transnational corporations to enter the mainland Chinese market, and for Taiwan to enhance its position in the global economy, President Ma Ying-jeou said on Thursday. “ECFA is expected to help Taiwan break out of economic isolation and marginalization, lay the cornerstone for mutually beneficial cross-strait exchanges and integrate Taiwan into the global economy,” Ma said, stressing the three major types of progress the ECFA will facilitate. Ma spoke at an hour-long international news conference at the Presidential Office in Taipei, where he voiced his official opinions on the ECFA for the first time since Taiwan inked the historic deal with China June 29. The president delivered a speech on Taiwan's strategic post-ECFA role. The Executive Yuan will set up a special committee on the promotion of foreign investment, and draft, within three months, a comprehensive plan to bolster investment opportunities in Taiwan, mainly targeting investors from the US, Europe and Japan, as well as Taiwanese businessmen operating in China, Ma said. In addition, a strategic task force on the global economy will be established under the National Security Council, to monitor the Executive Yuan's progress in promoting investment and work toward inking free trade agreements with major trading partners, Ma noted. “Although the ECFA is not a panacea, it is a tonic that will boost Taiwan's economy,” Ma said. “With the ECFA signed, Taiwan can be unleashed from the chains that have long confined it,” he added. “The government has kept its promise that no additional agricultural products or mainland Chinese laborers will be allowed in Taiwan,” Ma pointed out. “Our sovereignty and dignity are intact.” Asked if Taiwan will soon sign free trade agreements with other countries, President Ma said some countries in the Asia-Pacific region have already shown interest; however, “there is no timetable,” he added. The ECFA has already brought benefits to Taiwan, although the agreement will not be effective until Jan. 1, 2011, Ma said, noting that business groups from Taiwan's major economic partners, including the American Chamber of Commerce and European Chamber of Commerce, have shown interest in increasing their members' investments on the island. Moreover, Ma said Taiwan intends to sign with other Asian countries free trade agreements that will help the long-term growth of its export-reliant $390 billion economy.
