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Asia-pacific

Taiwan, China sign historic trade agreement

©

Text by News Wires

Latest update : 2010-06-29

Former foes China and Taiwan showed a historic level of cooperation, signing on Tuesday an ambitious free trade agreement that marks the culmination of a Beijing-friendly policy introduced by Taiwan President Ma Ying-jeou in 2008.

AFP - China and Taiwan on Tuesday signed an ambitious trade agreement, marking the boldest step yet towards reconciliation between the former arch-foes.

The Economic Cooperation Framework Agreement, hailed by both sides as a milestone and a commercial imperative in an era of strong regional cooperation, was signed by senior delegates in the southwest Chinese city of Chongqing.

The officials exchanged gifts and drank a toast at the signing ceremony.

The signing of the agreement, by far the most sweeping ever between the two sides, marks the culmination of a Beijing-friendly policy introduced by Taiwan President Ma Ying-jeou after assuming power in 2008.

Date created : 2010-06-29

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