Cross-Strait Service Trade Agreement

Cross-Strait Service Trade Agreement
Name	Cross-Strait Service Trade Agreement
Date signed	June 21, 2013
Location signed	Shanghai, China
Signatories	China, Taiwan
Languages	Chinese

Cross-Strait Service Trade Agreement is a significant trade agreement between China and Taiwan, aiming to strengthen economic ties and cooperation between the two sides. The agreement was signed on June 21, 2013, in Shanghai, China, by Yen Ching-chang, the chairman of the Taiwan Strait Exchange Foundation, and Chen Deming, the president of the Association for Relations Across the Taiwan Straits. This agreement is part of a broader effort to enhance Cross-Strait relations, following the Economic Cooperation Framework Agreement signed in 2010. The agreement has been facilitated by organizations such as the Taiwan Strait Exchange Foundation and the Association for Relations Across the Taiwan Straits, with support from key figures like Ma Ying-jeou and Hu Jintao.

Introduction

The Cross-Strait Service Trade Agreement is designed to liberalize trade in services between China and Taiwan, covering areas such as finance, telecommunications, tourism, and healthcare. The agreement aims to reduce barriers to trade and investment, increase market access, and promote economic cooperation between the two sides. Key institutions involved in the negotiation and implementation of the agreement include the Ministry of Commerce of the People's Republic of China, the Ministry of Economic Affairs (Taiwan), and the Taiwan Stock Exchange. The agreement has been influenced by international trade agreements, such as the General Agreement on Trade in Services and the World Trade Organization's Doha Development Round.

Background

The Cross-Strait Service Trade Agreement is part of a broader effort to strengthen economic ties between China and Taiwan, following the Chinese Civil War and the establishment of the People's Republic of China in 1949. The agreement builds on the Economic Cooperation Framework Agreement signed in 2010, which aimed to reduce tariffs and other trade barriers between the two sides. The agreement has been facilitated by key figures such as Chiang Kai-shek, Mao Zedong, and Deng Xiaoping, who played important roles in shaping Cross-Strait relations. Organizations such as the Asian Development Bank, the International Monetary Fund, and the World Bank have also provided support and guidance for the agreement.

Provisions and Terms

The Cross-Strait Service Trade Agreement covers a wide range of service sectors, including finance, telecommunications, tourism, and healthcare. The agreement aims to reduce barriers to trade and investment, increase market access, and promote economic cooperation between the two sides. Key provisions include the reduction of tariffs and other trade barriers, the establishment of a dispute settlement mechanism, and the promotion of cooperation in areas such as intellectual property rights and competition policy. The agreement has been influenced by international trade agreements, such as the North American Free Trade Agreement and the European Union's Single Market. Institutions such as the World Intellectual Property Organization and the International Chamber of Commerce have also played a role in shaping the agreement's provisions.

Negotiation and Signing

The Cross-Strait Service Trade Agreement was negotiated between China and Taiwan over several years, with the first round of talks taking place in 2011. The agreement was signed on June 21, 2013, in Shanghai, China, by Yen Ching-chang and Chen Deming. The negotiation process was facilitated by organizations such as the Taiwan Strait Exchange Foundation and the Association for Relations Across the Taiwan Straits, with support from key figures like Ma Ying-jeou and Hu Jintao. The agreement has been influenced by international trade agreements, such as the United States-Mexico-Canada Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Ratification and Implementation

The Cross-Strait Service Trade Agreement was ratified by Taiwan's Legislative Yuan in 2013, but its implementation has been delayed due to opposition from some lawmakers and civil society groups. The agreement has been implemented in stages, with some provisions coming into effect in 2014 and others in 2015. The implementation of the agreement has been overseen by institutions such as the Ministry of Commerce of the People's Republic of China and the Ministry of Economic Affairs (Taiwan), with support from organizations such as the Taiwan Stock Exchange and the Shanghai Stock Exchange. The agreement has been influenced by international trade agreements, such as the General Agreement on Tariffs and Trade and the World Trade Organization's Trade Facilitation Agreement.

Impact and Controversies

The Cross-Strait Service Trade Agreement has had a significant impact on the economies of China and Taiwan, with increased trade and investment between the two sides. However, the agreement has also been controversial, with some lawmakers and civil society groups expressing concerns about its impact on Taiwan's sovereignty and economic independence. The agreement has been influenced by key figures such as Tsai Ing-wen and Xi Jinping, who have played important roles in shaping Cross-Strait relations. Organizations such as the American Chamber of Commerce in Taiwan and the European Chamber of Commerce Taiwan have also provided support and guidance for the agreement. The agreement has been influenced by international trade agreements, such as the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership.

Category:Trade agreements