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Taiwan approves China trade pact

Taiwan's legislature has approved a landmark China trade pact, bringing the economies of the once bitter foes to their closest point in more than 60 years. The legislative vote late Aug. 17 came seven weeks after the signing of the Economic Cooperation Framework Agreement by the two governments. The pact slashes tariffs on hundreds of Chinese and Taiwanese products and provides Taiwanese firms with access to banking and insurance markets in China. The strong legislative majority enjoyed by President Ma Ying-jeou's Nationalist Party made approval a foregone conclusion. (AP)

Shukan ST: August 27, 2010

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World News Taiwan approves China trade pact Taiwan's legislature has approved a landmark China trade pact, bringing the economies of the once bitter foes to their closest point in more than 60 years. The legislative vote late Aug. 17 came seven weeks after the signing of the Economic Cooperation Framework Agreement by the two governments. The pact slashes tariffs on hundreds of Chinese and Taiwanese products and provides Taiwanese firms with access to banking and insurance markets in China. The strong legislative majority enjoyed by President Ma Ying-jeou's Nationalist Party made approval a foregone conclusion. (AP) Shukan ST: August 27, 2010 (C) All rights reserved