China and Taiwan to sign ECFA deal Tuesday

The Chinese mainland and Taiwan will sign an Economic Cooperation Framework Agreement (ECFA) slashing import tariffs on hundred of items next Tuesday, reported state media. The deal, valued at US$100 billion annually, represents the most important discussions between the two sides in 60 years and will be signed in the Chongqing municipality during the negotiators’ fifth round of talks. The ECFA will give Taiwanese companies tariff advantages on 530 categories of good exported to the mainland, while mainland firms will receive export benefits on 260 categories of good exported to Taiwan. The ECFA also provides for protection of intellectual property rights and regulates cross-Straits banking.