"Minister of Economic Affairs" Shih Yen-shiang reiterated his assertion Monday that once Taiwan signs a proposed economic cooperation framework agreement (ECFA) with the mainland, it certainly will be able to forge free trade agreements (FTAs) with other economies in the next few years.

Once the ECFA is sealed next month, signing FTAs with other economies can be expected, Shih Yen-shiang said while replying to questions by Legislator Lai Shyh-bao of the ruling Kuomintang in the legislative Economics Committee.

Asked about whether the 2010 World Exposition - taking place in Shanghai - will affect the completion of the ECFA, Shih replied: "In terms of the overall schedule, it will not."

He also confirmed that financial services have been included in the planned ECFA talks.

During the meeting, Lai also asked Ahih if Singapore will be the first country to sign an FTA with Taiwan.

Shih said that "based on the principle of mutual trust," he would not comment on deals with individual economies.

He said, however, that he had received messages from many trading partners saying it would be possible for them to sign FTAs with Taiwan if cross-Straits ties warm up.

Asked why it would take a few years for the FTAs, Shih said the government would need time to judge the possible impact of such agreements on Taiwan's industrial sectors.

Shih said Taiwan has proposed FTAs with major trading partners during bilateral talks, including Singapore, Malaysia, the United States, the European Union, Japan and Thailand.

China Daily/CNA

(HK Edition 05/04/2010 page4)