A total of 806 products under the Economic Cooperation Framework Agreement (ECFA) between the Chinese mainland and Taiwan are tariff-free after the third stage of exemptions of the Early Harvest Program was launched on Tuesday.
The Early Harvest Program, implemented two years ago, is designed to make people across the Taiwan Strait enjoy the bonus of the ECFA before the full liberalization of economic ties between the Chinese mainland and Taiwan.
Signed in June 2010, the ECFA is a preferential trade deal between the mainland and Taiwan that aims to reduce tariffs and commercial barriers between the two sides.
On Tuesday, an extra 14 items of goods from the mainland began enjoying tariff-free treatment, while the mainland exempted the tariffs on another 30 products from Taiwan.
The mainland has exempted the tariffs on 539 items of goods since 2011, and 267 products enjoy tariff-free treatment through Taiwan’s efforts.
Fan Liqing, Taiwan Affairs Office of the State Council spokesperson, said earlier last week that the program can further promote trade across the Strait and benefit the people.
The program has promoted economic development of both Taiwan and the mainland.
Statistics showed that from January 2011 to October 2012, the program has exempted the tariffs of 551 million U.S. dollars for Taiwan businesses.
It also pushed up exports of Taiwan’s industrial and agricultural products to the mainland.
Taiwan authorities’ statistics showed that exports of spare parts and tyres of heavy-duty goods vehicles to the mainland increased by 1,540 percent year on year in the first 10 months of 2012.
Agricultural goods worth 146 million U.S. dollars were exported to the mainland from Taiwan from January to November 2012, a rise of 36.7 percent year on year.