By Martin Banks - 1st July 2010
It is very welcome not least because it is a further sign that Taiwan is slowly succeeding in its efforts to join the international community. It could also spell good news for the European business community
UK ALDE MEP Edward McMillan-Scott
The expansion of cross-strait economic relations has a potential to benefit the development of its already significant trade and investment links in East Asia
Catherine Ashton
The EU has lauded the "constructive measures" Taiwan and China have taken with the signing of a historical trade agreement.
Speaking on Wednesday, the EU's foreign affairs chief Catherine Ashton said that the pact will contribute to regional stability.
"The EU believes that the expansion of cross-strait economic relations has a potential also to benefit the development of its already significant trade and investment links in East Asia, "said Ashton.
The economic cooperation framework agreement (ECFA), signed on Tuesday in Chongqing, China, aims to liberalise cross-strait trade by reducing tariffs, relaxing trade regulations and allowing better market access.
The Taiwan government has said it hopes that the pact will boost the country's economy and employment and prevent it from being marginalised in the economic integration process in East Asia.
In a statement issued the day after the signing of the ECFA, Ashton reiterated that, in the context of the EU's one-China policy, the EU believes that the "Taiwan question" must be resolved through dialogue between all concerned parties.
She said she appreciated and supports the efforts of both sides to find pragmatic solutions and peacefully develop relations. This contributes significantly to stability and security in East Asia, she added.
She welcomed the "constructive" measures to that effect which have been undertaken over recent years by parties on both sides of the Taiwan Strait.
Ashton also welcomed the concrete steps taken at the fifth round of cross-straits talks between the Strait Exchange Foundation's Chairman Chiang Pin Kun and the Association for Relations across the Taiwan Straits' which resulted in signing the Economic Cooperation Framework Agreement and an agreement on intellectual property rights.
"The EU believes that the expansion of cross-strait economic relations has a potential also to benefit the development of its already significant trade and investment links in East Asia."
The deal was also welcomed by UK ALDE MEP Edward McMillan-Scott, an outspoken critic of China, who said, "It is very welcome not least because it is a further sign that Taiwan is slowly succeeding in its efforts to join the international community.
"It could also spell good news for the European business community.
"However, it must be stressed that Taiwan remains excluded from many international organisations and this has to be addressed."
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