Mainland, Taiwan open channel to trade deal

TAICHUNG, Taiwan: Top negotiators from the mainland and Taiwan made a breakthrough yesterday by announcing the plan to launch negotiations on the much-anticipated cross-Straits free-trade deal.

The Economic Cooperation Framework Agreement (ECFA) signifies a major effort on both sides to boost economic ties. Initiated by Taiwan leader Ma Ying-jeou of the ruling Kuomintang, it will help cut import tariffs and aims to normalize trade across the Straits.

The decision to launch negotiations was made during a two-hour meeting between Beijing's top envoy Chen Yunlin and his Taiwan counterpart Chiang Pin-kung.